Super Group (SGHC) (NYSE:SGHC) Raised to Strong-Buy at Zacks Research

Super Group (SGHC) (NYSE:SGHC) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

SGHC has been the subject of a number of other reports. Citizens Jmp reiterated a “market outperform” rating and set a $19.00 price target on shares of Super Group (SGHC) in a report on Monday, August 31st. Needham & Company LLC raised their price objective on shares of Super Group (SGHC) from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of Super Group (SGHC) in a research note on Wednesday, July 8th. BTIG Research reduced their price target on shares of Super Group (SGHC) from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Benchmark raised their price target on shares of Super Group (SGHC) from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Super Group (SGHC) has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Super Group (SGHC) Stock Performance

Shares of Super Group (SGHC) stock traded down $0.22 during trading on Thursday, reaching $11.34. The company’s stock had a trading volume of 2,577,100 shares, compared to its average volume of 2,920,884. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.83 and a current ratio of 1.83. The business’s fifty day moving average price is $12.01 and its 200-day moving average price is $12.17. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 13.95 and a beta of 1.09. Super Group has a one year low of $8.46 and a one year high of $15.86.

Super Group (SGHC) (NYSE:SGHC) last announced its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.09. The firm had revenue of $611.00 million during the quarter, compared to the consensus estimate of $623.50 million. Super Group (SGHC) had a return on equity of 47.37% and a net margin of 15.22%. As a group, equities research analysts predict that Super Group will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Kirsty Ross sold 2,724 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $10.74, for a total transaction of $29,255.76. Following the sale, the chief operating officer directly owned 51,316 shares in the company, valued at approximately $551,133.84. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Alon Ben – David sold 23,300 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $13.79, for a total value of $321,307.00. Following the sale, the chief technology officer owned 7,814 shares in the company, valued at approximately $107,755.06. This represents a 74.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 66,024 shares of company stock valued at $910,563 in the last quarter. Corporate insiders own 10.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jacobi Capital Management LLC acquired a new stake in Super Group (SGHC) during the third quarter worth $41,000. Sterling Capital Management LLC increased its holdings in Super Group (SGHC) by 840.3% in the 3rd quarter. Sterling Capital Management LLC now owns 5,416 shares of the company’s stock valued at $61,000 after buying an additional 4,840 shares during the period. Independent Financial Group LLC acquired a new position in shares of Super Group (SGHC) in the 1st quarter valued at $114,000. Baron Wealth Management LLC acquired a new position in shares of Super Group (SGHC) in the 2nd quarter valued at $158,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Super Group (SGHC) by 12.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,012 shares of the company’s stock worth $141,000 after acquiring an additional 1,418 shares during the period. 5.09% of the stock is owned by institutional investors.

About Super Group (SGHC)

Super Group (SGHC) Ltd. is a global online sports betting and gaming company. Its principal brands are Betway, an online sportsbook and casino operator, and Spin, an online casino brand. Through these businesses, Super Group offers sports wagering, casino games, live casino products and related digital gaming services.

The company serves customers across multiple international markets, including regions in Africa, Asia, Europe, North America and South America, subject to local regulatory requirements.