Super Group (SGHC)’s (SGHC) Buy Rating Reaffirmed at BTIG Research

BTIG Research restated their buy rating on shares of Super Group (SGHC) (NYSE:SGHC) in a research report report published on Thursday morning,Benzinga reports. They currently have a $16.00 price objective on the stock.

Several other equities research analysts also recently commented on SGHC. Zacks Research raised Super Group (SGHC) from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. Wall Street Zen downgraded Super Group (SGHC) from a “strong-buy” rating to a “buy” rating in a report on Monday, January 12th. Benchmark boosted their target price on Super Group (SGHC) from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Super Group (SGHC) in a report on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Super Group (SGHC) currently has an average rating of “Buy” and a consensus target price of $16.75.

Super Group (SGHC) Trading Down 1.9%

Super Group (SGHC) stock opened at $11.00 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $10.38 and its two-hundred day simple moving average is $11.12. Super Group has a 12 month low of $7.32 and a 12 month high of $14.38. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 25.59 and a beta of 1.05.

Super Group (SGHC) Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend 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 1.8%. Super Group (SGHC)’s dividend payout ratio is currently 46.51%.

Insiders Place Their Bets

In other news, CFO Wyk Alinda Van sold 51,104 shares of the company’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 $547,323.84. Following the transaction, the chief financial officer directly owned 78,837 shares of the company’s stock, valued at $844,344.27. This represents a 39.33% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 company’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 $841,056.30. Following the transaction, the chief executive officer directly owned 676,334 shares in the company, valued at approximately $7,243,537.14. The trade was a 10.40% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 181,786 shares of company stock valued at $1,946,928. Company insiders own 10.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SGHC. CIBC Private Wealth Group LLC bought a new position in shares of Super Group (SGHC) during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of Super Group (SGHC) by 67,900.0% during the third quarter. SBI Securities Co. Ltd. now owns 2,720 shares of the company’s stock valued at $36,000 after purchasing an additional 2,716 shares in the last quarter. Wealthspire Advisors LLC bought a new position in shares of Super Group (SGHC) during the fourth quarter valued at $120,000. Teza Capital Management LLC bought a new position in shares of Super Group (SGHC) during the second quarter valued at $121,000. Finally, Cibc World Markets Corp bought a new position in shares of Super Group (SGHC) during the fourth quarter valued at $126,000. 5.09% of the stock is owned by institutional investors.

About Super Group (SGHC)

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.