Needham & Company LLC Issues Positive Forecast for Super Group (SGHC) (NYSE:SGHC) Stock Price

Super Group (SGHC) (NYSE:SGHC) had its target price upped by analysts at Needham & Company LLC from $17.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 37.56% from the stock’s previous close.

A number of other research firms have also weighed in on SGHC. Weiss Ratings raised shares of Super Group (SGHC) from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Citigroup reaffirmed an “outperform” rating on shares of Super Group (SGHC) in a research note on Wednesday, July 8th. Wall Street Zen raised Super Group (SGHC) from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Citizens Jmp upped their price objective on Super Group (SGHC) from $17.00 to $19.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 8th. 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 issued a Hold rating to the company’s stock. According to MarketBeat, Super Group (SGHC) currently has an average rating of “Moderate Buy” and an average price target of $18.71.

Super Group (SGHC) Price Performance

Shares of Super Group (SGHC) stock opened at $13.09 on Thursday. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 18.10 and a beta of 1.07. 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 stock has a 50 day moving average price of $13.98 and a 200-day moving average price of $12.05. Super Group has a one year low of $8.46 and a one year high of $15.86.

Super Group (SGHC) (NYSE:SGHC) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Super Group (SGHC) had a return on equity of 48.54% and a net margin of 15.22%.The company had revenue of $684.00 million during the quarter, compared to the consensus estimate of $659.90 million. Equities analysts expect that Super Group will post 0.8 EPS for the current year.

Insider Buying and Selling

In other Super Group (SGHC) news, CFO Wyk Alinda Van sold 78,837 shares of the firm’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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Neal Menashe sold 48,440 shares of Super Group (SGHC) stock in a transaction on Friday, July 31st. The shares were sold at an average price of $13.97, for a total value of $676,706.80. Following the sale, the chief executive officer directly owned 730,733 shares of the company’s stock, valued at approximately $10,208,340.01. This trade represents a 6.22% decrease in their ownership of the stock. 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 a total of 229,836 shares of company stock valued at $3,164,926 over the last quarter. 10.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC bought a new stake in shares of Super Group (SGHC) in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its stake in shares of Super Group (SGHC) by 119.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 5,964 shares of the company’s stock valued at $71,000 after purchasing an additional 3,244 shares in the last quarter. Independent Financial Group LLC purchased a new position in Super Group (SGHC) during the first quarter valued at approximately $114,000. Wealthspire Advisors LLC purchased a new position in Super Group (SGHC) during the fourth quarter valued at approximately $120,000. Finally, Teza Capital Management LLC bought a new position in Super Group (SGHC) in the second quarter worth approximately $121,000. 5.09% of the stock is currently owned by institutional investors.

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.