Insider Selling: Codere Online Luxembourg (NASDAQ:CDRO) Director Sells $143,331.04 in Stock

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) Director Sanchez Oscar Iglesias sold 14,276 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $10.04, for a total transaction of $143,331.04. Following the completion of the sale, the director owned 104,111 shares of the company’s stock, valued at $1,045,274.44. This trade represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 16th, Sanchez Oscar Iglesias sold 2,812 shares of Codere Online Luxembourg stock. The stock was sold at an average price of $10.01, for a total transaction of $28,148.12.
• On Monday, June 8th, Sanchez Oscar Iglesias sold 50 shares of Codere Online Luxembourg stock. The shares were 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 shares were sold at an average price of $10.01, for a total transaction of $4,324.32.

Codere Online Luxembourg Price Performance

Shares of CDRO stock traded down $0.14 during midday trading on Tuesday, reaching $9.71. 13,723 shares of the company traded hands, compared to its average volume of 22,003. The firm’s 50 day simple moving average is $9.29 and its two-hundred day simple moving average is $8.42. Codere Online Luxembourg, S.A. has a 1-year low of $5.18 and a 1-year high of $10.26.

Analyst Ratings Changes

CDRO has been the subject of several research reports. Weiss Ratings raised 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 Codere Online Luxembourg in a report on Friday, May 8th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Trading of Codere Online Luxembourg

Several large investors have recently modified their holdings of the business. UBS Group AG increased its stake in shares of Codere Online Luxembourg by 156.2% during the 3rd quarter. UBS Group AG now owns 512,884 shares of the company’s stock worth $3,539,000 after purchasing an additional 312,664 shares in the last quarter. FNY Investment Advisers LLC lifted its stake in Codere Online Luxembourg by 26.8% in the 4th 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 in the last quarter. Squarepoint Ops LLC acquired a new stake in Codere Online Luxembourg during the 3rd quarter valued at $203,000. Millennium Management LLC grew its holdings in Codere Online Luxembourg by 73.3% during the 3rd quarter. Millennium Management LLC now owns 57,755 shares of the company’s stock valued at $399,000 after buying an additional 24,438 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Codere Online Luxembourg during the 3rd quarter valued at $90,000. 10.30% of the stock is currently owned by institutional investors and hedge funds.

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.