Codere Online Luxembourg (NASDAQ:CDRO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Codere Online Luxembourg (NASDAQ:CDRO) to a strong-buy rating in a research report report published on Saturday.

CDRO has been the subject of several other research reports. Stifel Nicolaus set a $10.00 price objective 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 report on Friday, June 5th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Codere Online Luxembourg currently has an average rating of “Hold” and an average price target of $10.00.

Codere Online Luxembourg Stock Down 2.7%

Codere Online Luxembourg stock opened at $9.05 on Friday. Codere Online Luxembourg has a 1-year low of $5.18 and a 1-year high of $10.26. The company has a fifty day simple moving average of $9.53 and a 200 day simple moving average of $8.68.

Insider Transactions at Codere Online Luxembourg

In related news, Director Sanchez Oscar Iglesias sold 14,276 shares of Codere Online Luxembourg stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $10.04, for a total transaction of $143,331.04. Following the completion of the transaction, the director owned 104,111 shares in the company, valued at approximately $1,045,274.44. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 17,570 shares of company stock valued at $176,303. Company insiders own 1.16% of the company’s stock.

Institutional Trading of Codere Online Luxembourg

Several institutional investors and hedge funds have recently bought and sold shares of CDRO. FNY Investment Advisers LLC lifted its position in shares of Codere Online Luxembourg by 26.8% in the fourth quarter. FNY Investment Advisers LLC now owns 851,178 shares of the company’s stock valued at $6,834,000 after buying an additional 180,153 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Codere Online Luxembourg during the 3rd quarter worth approximately $90,000. Millennium Management LLC increased its holdings in shares of Codere Online Luxembourg by 73.3% during the 3rd quarter. Millennium Management LLC now owns 57,755 shares of the company’s stock worth $399,000 after acquiring an additional 24,438 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Codere Online Luxembourg in the 3rd quarter valued at $203,000. Finally, UBS Group AG raised its stake in Codere Online Luxembourg by 156.2% in the 3rd quarter. UBS Group AG now owns 512,884 shares of the company’s stock valued at $3,539,000 after acquiring an additional 312,664 shares during the period. Institutional investors own 10.30% of the company’s stock.

Codere Online Luxembourg Company Profile

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.