Engineers Gate Manager LP Sells 258,756 Shares of Super Group (SGHC) Limited $SGHC

Engineers Gate Manager LP reduced its position in shares of Super Group (SGHC) Limited (NYSE:SGHC) by 60.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,620 shares of the company’s stock after selling 258,756 shares during the period. Engineers Gate Manager LP’s holdings in Super Group (SGHC) were worth $2,298,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SGHC. Norges Bank purchased a new position in Super Group (SGHC) during the 4th quarter valued at about $23,791,000. Bank of America Corp DE raised its position in Super Group (SGHC) by 172.5% during the 1st quarter. Bank of America Corp DE now owns 1,158,102 shares of the company’s stock valued at $12,508,000 after purchasing an additional 733,073 shares during the last quarter. Prospect Capital Advisors LLC lifted its holdings in Super Group (SGHC) by 42.9% in the 1st quarter. Prospect Capital Advisors LLC now owns 1,042,100 shares of the company’s stock worth $11,255,000 after buying an additional 313,100 shares during the period. Findell Capital Management LLC lifted its holdings in Super Group (SGHC) by 40.3% in the 4th quarter. Findell Capital Management LLC now owns 940,000 shares of the company’s stock worth $11,233,000 after buying an additional 269,901 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in shares of Super Group (SGHC) by 1.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 650,030 shares of the company’s stock worth $7,768,000 after buying an additional 11,300 shares during the last quarter. 5.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

SGHC has been the topic of several research analyst reports. Citigroup reissued an “outperform” rating on shares of Super Group (SGHC) in a research note on Wednesday, July 8th. BTIG Research raised their price target on Super Group (SGHC) from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Super Group (SGHC) in a report on Thursday, August 13th. Needham & Company LLC upped their price objective on shares of Super Group (SGHC) from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $19.00 target price on shares of Super Group (SGHC) in a research note on Monday, August 31st. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.71.

Super Group (SGHC) Price Performance

Shares of NYSE SGHC opened at $13.85 on Tuesday. The company has a 50 day simple moving average of $14.01 and a two-hundred day simple moving average of $12.85. Super Group has a fifty-two week low of $8.46 and a fifty-two week high of $15.86. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 19.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.83 and a current ratio of 1.83.

Super Group (SGHC) (NYSE:SGHC) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Super Group (SGHC) had a return on equity of 47.37% and a net margin of 15.22%.The company had revenue of $684.00 million during the quarter, compared to analysts’ expectations of $659.90 million. Analysts expect that Super Group will post 0.8 EPS for the current fiscal year.

Super Group (SGHC) Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 22nd. Super Group (SGHC)’s payout ratio is 27.78%.

Insider Buying and Selling

In other news, CEO Neal Menashe sold 48,440 shares of Super Group (SGHC) stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $13.97, for a total value of $676,706.80. Following the completion of the transaction, the chief executive officer owned 730,733 shares of the company’s stock, valued at $10,208,340.01. The trade was a 6.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kirsty Ross sold 40,000 shares of Super Group (SGHC) stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $14.00, for a total value of $560,000.00. Following the completion of the transaction, the chief operating officer directly owned 48,261 shares of the company’s stock, valued at approximately $675,654. This represents a 45.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 188,943 shares of company stock valued at $2,636,538. 10.41% of the stock is owned by insiders.

Super Group (SGHC) Profile

Super Group (SGHC) Limited is a global online sports betting and gaming company that operates primarily through the Betway and Spin brands. Its offerings include online sports wagering, casino games, live dealer products and other digital gaming services delivered through websites and mobile platforms.

Betway is the company’s principal sports betting and online gaming brand, while Spin focuses on online casino and related gaming entertainment. Super Group serves customers in multiple regulated markets across Africa, Europe, the Americas and other international jurisdictions, with the availability of products varying according to local laws and licensing requirements.

The company was formed through the combination of the Betway and Spin businesses and became a publicly traded company on the New York Stock Exchange in 2022.