Super Group (SGHC) (NYSE:SGHC) Stock Price Up 6.2% – Here’s What Happened

Super Group (SGHC) Limited (NYSE:SGHC) was up 6.2% on Tuesday . The stock traded as high as $13.75 and last traded at $13.6680. Approximately 2,806,147 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 3,072,903 shares. The stock had previously closed at $12.87.

Analyst Ratings Changes

A number of brokerages recently commented on SGHC. Wall Street Zen upgraded Super Group (SGHC) from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Citizens Jmp lifted their target price on Super Group (SGHC) from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, May 20th. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Super Group (SGHC) in a report on Thursday, April 16th. Benchmark boosted their target price on Super Group (SGHC) from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Zacks Research lowered Super Group (SGHC) from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Super Group (SGHC) currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

Super Group (SGHC) Trading Up 0.4%

The company has a market capitalization of $6.97 billion, a P/E ratio of 28.52 and a beta of 1.08. The stock’s 50 day moving average is $12.36 and its 200-day moving average is $11.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.61 and a quick ratio of 1.61.

Super Group (SGHC) (NYSE:SGHC) last released its quarterly earnings results on Saturday, April 18th. The company reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $578.00 million during the quarter. Super Group (SGHC) had a net margin of 10.58% and a return on equity of 42.85%. As a group, equities research analysts anticipate that Super Group will post 0.8 earnings per share for the current year.

Insider Transactions at Super Group (SGHC)

In related news, CEO Neal Menashe sold 78,530 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 value of $841,056.30. Following the sale, the chief executive officer directly owned 676,334 shares of the company’s stock, valued at $7,243,537.14. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kirsty Farrah Ross sold 25,356 shares of the company’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 completion of the sale, the chief operating officer directly owned 27,000 shares in the company, valued at approximately $351,000. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 285,979 shares of company stock valued at $3,356,623 in the last three months. Company insiders own 10.41% of the company’s stock.

Institutional Investors Weigh In On Super Group (SGHC)

Hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC purchased a new position in Super Group (SGHC) during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. boosted its stake in shares of Super Group (SGHC) by 67,900.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,720 shares of the company’s stock worth $36,000 after acquiring an additional 2,716 shares during the last quarter. Wealthspire Advisors LLC bought a new position in shares of Super Group (SGHC) in the fourth quarter worth about $120,000. Independent Financial Group LLC purchased a new stake in shares of Super Group (SGHC) in the first quarter worth $114,000. Finally, Cibc World Markets Corp bought a new position in shares of Super Group (SGHC) in the fourth quarter worth about $126,000. Institutional investors own 5.09% of the company’s stock.

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.