Codere Online Luxembourg (NASDAQ:CDRO) Upgraded to Strong-Buy at Wall Street Zen

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

CDRO has been the subject of a number of other research reports. Weiss Ratings raised shares of Codere Online Luxembourg from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Stifel Nicolaus set a $10.00 target price on shares of Codere Online Luxembourg in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Codere Online Luxembourg currently has an average rating of “Hold” and a consensus target price of $10.00.

Codere Online Luxembourg Stock Down 2.3%

Shares of CDRO opened at $9.30 on Friday. Codere Online Luxembourg has a 52-week low of $5.18 and a 52-week high of $10.26. The stock has a fifty day simple moving average of $9.53 and a two-hundred day simple moving average of $8.67.

Insider Activity

In other Codere Online Luxembourg news, Director Sanchez Oscar Iglesias sold 14,276 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $10.04, for a total value of $143,331.04. Following the transaction, the director owned 104,111 shares of the company’s stock, valued at $1,045,274.44. This represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 17,570 shares of company stock worth $176,303. 1.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Codere Online Luxembourg

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its holdings in shares of Codere Online Luxembourg by 156.2% in the 3rd quarter. UBS Group AG now owns 512,884 shares of the company’s stock worth $3,539,000 after acquiring an additional 312,664 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Codere Online Luxembourg in the 3rd quarter valued at approximately $203,000. Millennium Management LLC raised 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 valued at $399,000 after purchasing an additional 24,438 shares during the period. Susquehanna International Group LLP purchased a new stake in Codere Online Luxembourg in the third quarter valued at approximately $90,000. Finally, FNY Investment Advisers LLC lifted its stake in Codere Online Luxembourg by 26.8% during the fourth quarter. FNY Investment Advisers LLC now owns 851,178 shares of the company’s stock worth $6,834,000 after purchasing an additional 180,153 shares in the last quarter. 10.30% of the stock is owned by hedge funds and other institutional investors.

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.