Shares of Super Group Limited (NYSE:SGHC – Get Rating) shot up 6.3% during trading on Wednesday . The company traded as high as $3.54 and last traded at $3.52. 20,260 shares changed hands during trading, a decline of 87% from the average session volume of 153,865 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

Several analysts have recently weighed in on SGHC shares. Canaccord Genuity Group cut shares of Super Group from a "buy" rating to a "hold" rating and dropped their price target for the company from $8.00 to $5.00 in a research note on Tuesday, March 14th. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 price objective on shares of Super Group in a research report on Wednesday, March 15th.

Super Group Stock Performance

The business's 50-day simple moving average is $3.81 and its two-hundred day simple moving average is $3.56.

Institutional Trading of Super Group

Several institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in shares of Super Group by 122.1% during the second quarter. Millennium Management LLC now owns 1,959,458 shares of the company's stock worth $8,034,000 after buying an additional 1,077,285 shares during the period. Phraction Management LLC acquired a new position in Super Group in the 4th quarter valued at about $136,000. Goldman Sachs Group Inc. acquired a new position in Super Group in the 1st quarter valued at about $433,000. Toroso Investments LLC purchased a new stake in Super Group during the first quarter worth about $175,000. Finally, Neuberger Berman Group LLC lifted its position in shares of Super Group by 101.6% during the third quarter. Neuberger Berman Group LLC now owns 25,800 shares of the company's stock worth $105,000 after purchasing an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 2.92% of the company's stock.

About Super Group

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Super Group (SGHC) Limited operates as an online sports betting and gaming operator. It offers Betway, an online sports betting brand; and Spin, a multi-brand online casino offering. The company is based in Saint Peter Port, Guernsey.

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