Codere Online Luxembourg (NASDAQ:CDRO) Director Sells 2,812 Shares of Stock

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) Director Sanchez Oscar Iglesias sold 2,812 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $10.01, for a total transaction of $28,148.12. Following the transaction, the director directly owned 118,387 shares in the company, valued at $1,185,053.87. The trade was a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sanchez Oscar Iglesias also recently made the following trade(s):

• On Monday, June 8th, Sanchez Oscar Iglesias sold 50 shares of Codere Online Luxembourg stock. The stock was sold at an average price of $10.00, for a total transaction of $500.00.
• On Tuesday, June 2nd, Sanchez Oscar Iglesias sold 432 shares of Codere Online Luxembourg stock. The stock was sold at an average price of $10.01, for a total transaction of $4,324.32.

Codere Online Luxembourg Trading Up 2.1%

NASDAQ:CDRO traded up $0.21 on Thursday, hitting $10.20. The stock had a trading volume of 147,414 shares, compared to its average volume of 21,975. Codere Online Luxembourg, S.A. has a 1 year low of $5.18 and a 1 year high of $10.26. The firm’s fifty day simple moving average is $9.19 and its two-hundred day simple moving average is $8.36.

Institutional Investors Weigh In On Codere Online Luxembourg

A number of hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new position in Codere Online Luxembourg in the third quarter valued at approximately $90,000. Millennium Management LLC increased its position in Codere Online Luxembourg by 73.3% in the third quarter. Millennium Management LLC now owns 57,755 shares of the company’s stock worth $399,000 after buying an additional 24,438 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Codere Online Luxembourg in the third quarter worth $203,000. FNY Investment Advisers LLC raised its stake in shares of Codere Online Luxembourg by 20.8% in the third quarter. FNY Investment Advisers LLC now owns 671,025 shares of the company’s stock valued at $4,630,000 after buying an additional 115,578 shares during the period. Finally, UBS Group AG raised its stake in shares of Codere Online Luxembourg by 156.2% in the third quarter. UBS Group AG now owns 512,884 shares of the company’s stock valued at $3,539,000 after buying an additional 312,664 shares during the period. Institutional investors own 10.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stifel Nicolaus set a $10.00 price target on Codere Online Luxembourg in a report on Friday, May 8th. Weiss Ratings upgraded Codere Online Luxembourg from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Codere Online Luxembourg has a consensus rating of “Hold” and an average price target of $10.00.

About Codere Online Luxembourg

Codere Online Luxembourg SA is a publicly traded company incorporated under the laws of Luxembourg and listed on the Nasdaq Stock Market under the ticker CDRO. Established in December 2020 as a spin-off of Grupo Codere’s digital operations, Codere Online leverages the heritage and infrastructure of its Spanish parent to deliver a dedicated online gaming and sports betting platform. Headquartered in Luxembourg City, the company operates through locally licensed subsidiaries in multiple jurisdictions.

The company’s core business revolves around an integrated online sportsbook and casino offering.