Super Group (SGHC) (NYSE:SGHC) Shares Up 5.8% - Here's Why

Key Points

• Super Group (SGHC) shares rose 5.8% in mid-day trading, reaching as high as $13.99 after a heavier-than-normal trading session.
• Analysts remain generally constructive despite recent downgrades, with the stock carrying a Moderate Buy consensus and an average price target of $16.75.
• The company reported recent quarterly earnings of $0.13 per share on $578 million in revenue, and it also increased its quarterly dividend to $0.05 per share.

Shares of Super Group (SGHC) Limited (NYSE:SGHC - Get Free Report) shot up 5.8% during mid-day trading on Tuesday . The company traded as high as $13.99 and last traded at $13.9380. 3,407,941 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 2,912,383 shares. The stock had previously closed at $13.18.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SGHC. Wall Street Zen lowered Super Group (SGHC) from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Zacks Research downgraded Super Group (SGHC) from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. BTIG Research reaffirmed a "buy" rating and set a $16.00 price target on shares of Super Group (SGHC) in a research report on Thursday, April 16th. Benchmark increased their price target on Super Group (SGHC) from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Super Group (SGHC) in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $16.75.

Super Group (SGHC) Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.94 and a current ratio of 1.94. The stock's 50 day simple moving average is $11.30 and its two-hundred day simple moving average is $11.02. The firm has a market capitalization of $6.69 billion, a PE ratio of 30.68 and a beta of 1.11.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last released its earnings results on Saturday, April 18th. The company reported $0.13 earnings per share for the quarter. The business had revenue of $578.00 million for the quarter. Super Group (SGHC) had a net margin of 9.77% and a return on equity of 40.15%. On average, sell-side analysts forecast that Super Group will post 0.8 EPS for the current year.

Super Group (SGHC) Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, March 16th. This is an increase from Super Group (SGHC)'s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. Super Group (SGHC)'s payout ratio is presently 46.51%.

Insider Activity at Super Group (SGHC)

In other Super Group (SGHC) news, CFO Wyk Alinda Van sold 51,104 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $10.71, for a total value of $547,323.84. Following the transaction, the chief financial officer owned 78,837 shares in the company, valued at $844,344.27. The trade was a 39.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Neal Menashe sold 78,530 shares of the business's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $10.71, for a total transaction of $841,056.30. Following the completion of the transaction, the chief executive officer owned 676,334 shares in the company, valued at $7,243,537.14. This represents a 10.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 181,786 shares of company stock valued at $1,946,928 in the last ninety days. 10.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Super Group (SGHC)

A number of institutional investors have recently modified their holdings of SGHC. CIBC Private Wealth Group LLC bought a new stake in shares of Super Group (SGHC) during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its holdings in shares of Super Group (SGHC) by 67,900.0% in the third quarter. SBI Securities Co. Ltd. now owns 2,720 shares of the company's stock valued at $36,000 after acquiring an additional 2,716 shares in the last quarter. Wealthspire Advisors LLC bought a new position in shares of Super Group (SGHC) in the fourth quarter valued at approximately $120,000. Independent Financial Group LLC acquired a new stake in Super Group (SGHC) during the first quarter valued at approximately $114,000. Finally, Cibc World Markets Corp acquired a new stake in Super Group (SGHC) during the fourth quarter valued at approximately $126,000. Institutional investors and hedge funds own 5.09% of the company's stock.

Super Group (SGHC) Company Profile

Super Group NYSE: SGHC is a global sports betting and iGaming operator that offers online wagering and gaming solutions under well-known brands such as Betway and Spin. The company’s technology platform supports fixed-odds and in-play sports betting, virtual sports, eSports wagering and a diverse suite of casino games, including slots, table games and live dealer experiences. Super Group’s digital infrastructure is designed to deliver a seamless, secure user experience across desktop and mobile devices.

The company holds operating licenses in multiple regulated jurisdictions, including the United Kingdom, Malta, Italy, Spain and selected states in the United States.

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