# Super Group (SGHC) Limited (SGHC)

> Source: Nexqual · https://nexqual.com/SGHC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Super Group (SGHC) Limited (SGHC), nexqual.com/SGHC" · informational, not investment advice.

**Price:** USD 11.35 (+1.98% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 11.13 · day 11.11–11.46 · 52w 8.46–15.86 · market cap $5.77B · NYQ

## Key facts
- Insider open-market sales, last ~7 months: 13 Form 4 filings, $6.6M; 13 not under a Rule 10b5-1 plan ($6.6M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.75 on a 1–5 scale) (8 analysts), mean target USD 19.38 (range 18–22).
- Total return with dividends: 1Y -4.1% vs S&P 500 +14.9%; 5Y +17.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 0.17, revenue estimate $554M.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 13 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-14 | Ben David Alon | Chief Technology Officer | 23,300 | $321K | 74.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-28 | Ross Kirsty Farrah | Chief Operating Officer | 40,000 | $560K | 45.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-31 | Van Wyk Alinda | Chief Financial Officer | 22,644 | $316K | 45.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-31 | Menashe Neal | Chief Executive Officer | 48,440 | $677K | 6.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-31 | Ross Kirsty Farrah | Chief Operating Officer | 54,551 | $762K | 38.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-30 | Ben David Alon | Chief Technology Officer | 8 | $0K | 0% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-02 | Ross Kirsty Farrah | Chief Operating Officer | 25,356 | $330K | 48.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-19 | Van Wyk Alinda | Chief Financial Officer | 78,837 | $1.1M | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-15 | Ross Kirsty Farrah | Chief Operating Officer | 44,628 | $582K | 46% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Nathan Martine | General Counsel | 4,761 | $51K | 13.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Ross Kirsty Farrah | Chief of Staff | 47,391 | $508K | 32.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Van Wyk Alinda | Chief Financial Officer | 51,104 | $547K | 39.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Menashe Neal | Chief Executive Officer | 78,530 | $841K | 10.4% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 8 analysts; mean target USD 19.38 (low 18, high 22).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | Macquarie | Target lowered | Outperform | $20 → $19 |
| 2026-08-31 | Citizens | Reiterated | Market Outperform | $19 |
| 2026-08-06 | Needham | Target raised | Buy | $17 → $18 |
| 2026-08-05 | Benchmark | Target raised | Buy | $19 → $20 |
| 2026-07-17 | BTIG | Target raised | Buy | $16 → $19 |
| 2026-07-10 | Benchmark | Target raised | Buy | $18 → $19 |
| 2026-07-08 | Citizens | Target raised | Market Outperform | $17 → $19 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -4.1% | +17.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -4.1% | +3.2% |
| Volatility (annualized) | 43.0% | 54.6% |
| Max drawdown | -32.8% (Nov 2025→Feb 2026) | -76.9% (Nov 2021→Jan 2024) |

## Peers (Gambling)
CHDN (Churchill Downs, Incorporated) USD 84.45 +2.01% · RSI (Rush Street Interactive, Inc.) USD 16.36 -2.91% · DKNG (DraftKings Inc.) USD 20.94 +2.00% · FLUT (Flutter Entertainment plc) USD 81.69 +4.38% · BRSL (Brightstar Lottery PLC Trading ) USD 9.56 +3.58% · ACEL (Accel Entertainment, Inc.) USD 10.97 +1.76%

## More
Full page: https://nexqual.com/SGHC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SGHC's own 20-F filed 2026-04-17 (https://www.sec.gov/Archives/edgar/data/1878057/000162828026025609/sghc-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Apricot Investments | "This exclusive arrangement prevented Apricot from licensing the Fusion Sportsbook Software to any other customers in those jurisdictions, but did not prevent us from utilizing our own or other suppliers' sportsbook softw…" |
| Supplier | Fusion Holdings | "This exclusive arrangement prevented Apricot from licensing the Fusion Sportsbook Software to any other customers in those jurisdictions, but did not prevent us from utilizing our own or other suppliers' sportsbook softw…" |
| Supplier | Sportradar Group AG (SRAD) | "SportRadar AG is a leading information supplier for sport related data and statistics as well as sophisticated technical solutions." |
| Partner | Perform and Betway | "Each agreement is between Perform and Betway Limited and each provide access to us and our brand license partners, where appropriate." |
| Partner | Sports Entertainment Acquisition | "In January 2022, we entered into a Business Combination Agreement with Sports Entertainment Acquisition Corp., a Delaware corporation ("SEAC"), SGHC Merger Sub, Inc., and Sports Entertainment Acquisition Holdings LLC (th…" |
| Partner | SGHC Merger Sub | "In January 2022, we entered into a Business Combination Agreement with Sports Entertainment Acquisition Corp., a Delaware corporation ("SEAC"), SGHC Merger Sub, Inc., and Sports Entertainment Acquisition Holdings LLC (th…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.17 | $0.20 | -13.9% | $554.1M | 1 |
| Next quarter (ends 2026-12-31) | $0.17 | $0.20 | -17.4% | $606.6M | 1 |
| Current fiscal year (ends 2026-12-31) | $0.75 | $0.78 | -4.2% | $2.31B | 1 |
| Next fiscal year (ends 2027-12-31) | $0.87 | $0.89 | -3.1% | $2.51B | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-03): ±13.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 59.6% | ±13.7% |
| 2026-12-18 | 56 | 49.4% | ±16.3% |
| 2027-01-15 | 84 | 48.4% | ±18.7% |
| 2027-04-16 | 175 | 47.4% | ±25.8% |
| 2027-06-17 | 237 | 48.2% | ±30.4% |