Zacks Research Downgrades Super Group (SGHC) (NYSE:SGHC) to Hold

Super Group (SGHC) (NYSE:SGHC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on SGHC. Weiss Ratings restated a “hold (c)” rating on shares of Super Group (SGHC) in a report on Tuesday, January 27th. BTIG Research restated a “buy” rating and set a $16.00 price objective on shares of Super Group (SGHC) in a report on Thursday, April 16th. Benchmark boosted their price objective 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, Wall Street Zen cut Super Group (SGHC) from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.75.

Super Group (SGHC) Stock Performance

Super Group (SGHC) stock traded up $0.52 during midday trading on Monday, reaching $12.86. 1,203,756 shares of the company’s stock were exchanged, compared to its average volume of 2,785,133. Super Group has a 52 week low of $7.91 and a 52 week high of $14.38. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 29.69 and a beta of 1.05. The stock’s 50-day simple moving average is $10.90 and its 200 day simple moving average is $11.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.94 and a current ratio of 1.94.

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

Insider Buying and Selling at Super Group (SGHC)

In other news, CEO Neal Menashe sold 78,530 shares of Super Group (SGHC) 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 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Super Group (SGHC) stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $10.71, for a total transaction of $547,323.84. Following the completion of the sale, the chief financial officer owned 78,837 shares of the company’s stock, valued at approximately $844,344.27. The trade was a 39.33% 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. Insiders have sold a total of 181,786 shares of company stock valued at $1,946,928 in the last three months. Corporate insiders own 10.41% of the company’s stock.

Institutional Investors Weigh In On Super Group (SGHC)

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. raised its position in shares of Super Group (SGHC) by 3.0% in the third quarter. American Century Companies Inc. now owns 5,366,058 shares of the company’s stock valued at $70,832,000 after buying an additional 156,351 shares in the last quarter. Invesco Ltd. raised its position in shares of Super Group (SGHC) by 324.3% in the fourth quarter. Invesco Ltd. now owns 4,671,798 shares of the company’s stock valued at $55,828,000 after buying an additional 3,570,825 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Super Group (SGHC) by 4.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,639,678 shares of the company’s stock valued at $55,444,000 after purchasing an additional 202,144 shares in the last quarter. Millennium Management LLC raised its position in Super Group (SGHC) by 127.2% during the first quarter. Millennium Management LLC now owns 2,737,329 shares of the company’s stock valued at $17,628,000 after purchasing an additional 1,532,666 shares in the last quarter. Finally, Norges Bank acquired a new position in Super Group (SGHC) during the fourth quarter valued at approximately $23,791,000. 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.