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

Codere Online Luxembourg (NASDAQ:CDRO) was upgraded by research analysts at Wall Street Zen to a “strong-buy” rating in a note issued to investors on Saturday.

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

Codere Online Luxembourg Price Performance

Shares of NASDAQ CDRO opened at $9.30 on Friday. The stock has a 50 day moving average price of $9.53 and a 200 day moving average price of $8.67. Codere Online Luxembourg has a 52 week low of $5.18 and a 52 week high of $10.26.

Insider Activity at Codere Online Luxembourg

In other news, Director Sanchez Oscar Iglesias sold 14,276 shares of the 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 completion of the transaction, the director owned 104,111 shares of the company’s stock, valued at approximately $1,045,274.44. This represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,570 shares of company stock valued at $176,303 over the last three months. 1.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Codere Online Luxembourg

Several hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP bought a new stake in Codere Online Luxembourg during the 3rd quarter worth approximately $90,000. Squarepoint Ops LLC bought a new stake in shares of Codere Online Luxembourg during the 3rd quarter valued at about $203,000. Millennium Management LLC grew its position 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 buying an additional 24,438 shares during the period. UBS Group AG grew its holdings in Codere Online Luxembourg by 156.2% in the third 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 during the period. Finally, FNY Investment Advisers LLC grew its stake in shares of 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 during the period. Institutional investors and hedge funds 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.