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

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on SGHC shares. Citigroup reissued an “outperform” rating on shares of Super Group (SGHC) in a research note on Wednesday, May 20th. Weiss Ratings raised Super Group (SGHC) from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. BTIG Research restated a “buy” rating and issued a $16.00 price target on shares of Super Group (SGHC) in a research report on Thursday, April 16th. Wall Street Zen raised Super Group (SGHC) from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Benchmark upped 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. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Super Group (SGHC) presently has a consensus rating of “Moderate Buy” and an average price target of $17.57.

Super Group (SGHC) Trading Up 4.0%

The company has a market cap of $6.77 billion, a price-to-earnings ratio of 27.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.61 and a quick ratio of 1.61. The business’s 50-day simple moving average is $12.24 and its 200-day simple moving average is $11.21.

Super Group (SGHC) (NYSE:SGHC) last issued its quarterly earnings data on Saturday, April 18th. The company reported $0.13 earnings per share for the quarter. Super Group (SGHC) had a net margin of 10.58% and a return on equity of 42.85%. The business had revenue of $578.00 million during the quarter. Research analysts predict that Super Group will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Super Group (SGHC) news, COO Kirsty Farrah Ross sold 25,356 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $13.00, for a total value of $329,628.00. Following the transaction, the chief operating officer directly owned 27,000 shares in the company, valued at approximately $351,000. This represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Wyk Alinda Van sold 78,837 shares of Super Group (SGHC) stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Insiders have sold 285,979 shares of company stock valued at $3,356,623 over the last three months. Insiders own 10.41% of the company’s stock.

Institutional Investors Weigh In On Super Group (SGHC)

Several hedge funds have recently modified their holdings of SGHC. Mercer Global Advisors Inc. ADV grew its holdings in Super Group (SGHC) by 7.1% in the third quarter. Mercer Global Advisors Inc. ADV now owns 16,363 shares of the company’s stock valued at $216,000 after purchasing an additional 1,078 shares during the period. PNC Financial Services Group Inc. increased 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 buying an additional 1,418 shares during the last quarter. Mariner LLC raised its position in shares of Super Group (SGHC) by 1.4% in the 3rd quarter. Mariner LLC now owns 103,271 shares of the company’s stock worth $1,363,000 after buying an additional 1,471 shares during the period. ProShare Advisors LLC boosted its holdings in Super Group (SGHC) by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 29,112 shares of the company’s stock valued at $348,000 after acquiring an additional 1,865 shares during the last quarter. Finally, Advisory Research Inc. boosted its holdings in Super Group (SGHC) by 5.4% in the fourth quarter. Advisory Research Inc. now owns 37,688 shares of the company’s stock valued at $450,000 after acquiring an additional 1,923 shares during the last quarter. 5.09% of the stock is owned by institutional investors and hedge funds.

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.