Super Group (SGHC) (NYSE:SGHC) Shares Up 5.8% – Here’s Why

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SGHC shares. Zacks Research downgraded shares of Super Group (SGHC) from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen cut shares of Super Group (SGHC) from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Benchmark lifted 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 report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Super Group (SGHC) in a research report on Tuesday, January 27th. Finally, BTIG Research reiterated a “buy” rating and set a $16.00 price objective on shares of Super Group (SGHC) in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.75.

Super Group (SGHC) Trading Up 0.3%

The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.02. The company has a market cap of $6.69 billion, a PE ratio of 30.68 and a beta of 1.11. The business’s 50-day simple moving average is $11.30 and its 200-day simple moving average is $11.02.

Super Group (SGHC) (NYSE:SGHC) last released its earnings results on Saturday, April 18th. The company reported $0.13 earnings per share (EPS) for the quarter. Super Group (SGHC) had a net margin of 9.77% and a return on equity of 40.15%. The company had revenue of $578.00 million during the quarter. As a group, analysts expect that Super Group will post 0.8 EPS for the current fiscal year.

Super Group (SGHC) Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, March 16th. This is a positive change from Super Group (SGHC)’s previous quarterly dividend of $0.04. Super Group (SGHC)’s payout ratio is currently 46.51%.

Insider Activity at Super Group (SGHC)

In other Super Group (SGHC) news, CEO Neal Menashe sold 78,530 shares of the stock in a transaction that occurred 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 completion of the sale, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wyk Alinda Van sold 51,104 shares of the 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 owned 78,837 shares in the company, valued at approximately $844,344.27. This trade represents a 39.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 181,786 shares of company stock worth $1,946,928 in the last quarter. 10.41% of the stock is owned by corporate insiders.

Institutional Trading of Super Group (SGHC)

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Super Group (SGHC) by 235.3% during the 1st quarter. AQR Capital Management LLC now owns 167,969 shares of the company’s stock worth $1,082,000 after acquiring an additional 117,869 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Super Group (SGHC) by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,062 shares of the company’s stock worth $574,000 after acquiring an additional 3,783 shares during the period. Millennium Management LLC lifted its holdings in shares of Super Group (SGHC) by 127.2% during the 1st quarter. Millennium Management LLC now owns 2,737,329 shares of the company’s stock worth $17,628,000 after acquiring an additional 1,532,666 shares during the period. Jane Street Group LLC bought a new position in shares of Super Group (SGHC) during the 1st quarter worth about $1,523,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Super Group (SGHC) by 30.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 722,660 shares of the company’s stock worth $7,928,000 after acquiring an additional 168,622 shares during the period. 5.09% of the stock is currently owned by institutional investors and hedge funds.

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.