Super Group (SGHC) (NYSE:SGHC) Hits New 52-Week High After Analyst Upgrade

Super Group (SGHC) Limited (NYSE:SGHC) shares reached a new 52-week high during mid-day trading on Monday after BTIG Research raised their price target on the stock from $16.00 to $19.00. BTIG Research currently has a buy rating on the stock. Super Group (SGHC) traded as high as $15.75 and last traded at $15.7390, with a volume of 3877765 shares. The stock had previously closed at $14.73.

A number of other brokerages have also issued reports on SGHC. Weiss Ratings upgraded shares of Super Group (SGHC) from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Benchmark raised their price objective on shares of Super Group (SGHC) from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Zacks Research lowered shares of Super Group (SGHC) from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Citizens Jmp lifted their price objective on shares of Super Group (SGHC) from $17.00 to $19.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Super Group (SGHC) from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.43.

Insiders Place Their Bets

In related news, CFO Wyk Alinda Van sold 78,837 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $13.70, for a total transaction of $1,080,066.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kirsty Farrah Ross sold 25,356 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $13.00, for a total value of $329,628.00. Following the transaction, the chief operating officer directly owned 27,000 shares of the company’s stock, valued at $351,000. The trade was a 48.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 104,201 shares of company stock valued at $1,409,805. 10.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGHC. Baron Wealth Management LLC acquired a new position in Super Group (SGHC) during the 2nd quarter worth approximately $158,000. Prospect Capital Advisors LLC increased its position in shares of Super Group (SGHC) by 42.9% in the 1st quarter. Prospect Capital Advisors LLC now owns 1,042,100 shares of the company’s stock valued at $11,255,000 after purchasing an additional 313,100 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Super Group (SGHC) in the 1st quarter valued at $2,662,000. Bank of America Corp DE raised its holdings in shares of Super Group (SGHC) by 172.5% in the 1st quarter. Bank of America Corp DE now owns 1,158,102 shares of the company’s stock valued at $12,508,000 after purchasing an additional 733,073 shares in the last quarter. Finally, Anson Funds Management LP lifted its position in shares of Super Group (SGHC) by 108.3% during the 1st quarter. Anson Funds Management LP now owns 531,214 shares of the company’s stock worth $5,737,000 after purchasing an additional 276,214 shares during the last quarter. Hedge funds and other institutional investors own 5.09% of the company’s stock.

Super Group (SGHC) Trading Up 5.7%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 1.61. The company’s 50-day moving average price is $13.74 and its 200-day moving average price is $11.76. The firm has a market capitalization of $7.87 billion, a PE ratio of 32.23 and a beta of 1.06.

Super Group (SGHC) (NYSE:SGHC) last posted its earnings results on Saturday, April 18th. The company reported $0.13 EPS for the quarter. Super Group (SGHC) had a return on equity of 42.85% and a net margin of 10.58%.The firm had revenue of $578.00 million for the quarter. On average, sell-side analysts expect that Super Group will post 0.8 earnings per share for the current year.

Super Group (SGHC) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, June 23rd. Super Group (SGHC)’s dividend payout ratio is currently 41.67%.

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.