Wall Street Zen Downgrades Codere Online Luxembourg (NASDAQ:CDRO) to Buy

Codere Online Luxembourg (NASDAQ:CDRO) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Other research analysts have also recently issued research reports about the company. Weiss Ratings raised Codere Online Luxembourg from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Stifel Nicolaus set a $10.00 price target on shares of Codere Online Luxembourg in a research report on Friday, May 8th. Three research analysts have rated the stock with a Hold rating, According to 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 Performance

Shares of CDRO stock opened at $9.18 on Friday. Codere Online Luxembourg has a 1 year low of $5.18 and a 1 year high of $10.26. The business’s fifty day moving average is $9.52 and its 200-day moving average is $8.77.

Insider Transactions at Codere Online Luxembourg

In other Codere Online Luxembourg news, Director Sanchez Oscar Iglesias sold 14,276 shares of Codere Online Luxembourg stock in a transaction that occurred on 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 in the company, valued at approximately $1,045,274.44. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 in the last quarter. Insiders own 1.16% of the company’s stock.

Institutional Investors Weigh In On Codere Online Luxembourg

Several large investors have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new position in shares of Codere Online Luxembourg in the 3rd quarter worth $90,000. Squarepoint Ops LLC purchased a new stake in shares of Codere Online Luxembourg during the third quarter valued at $203,000. Millennium Management LLC lifted its holdings in shares of Codere Online Luxembourg by 73.3% during 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 last quarter. Finally, UBS Group AG boosted its position 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 valued at $3,539,000 after purchasing an additional 312,664 shares during the period. 10.30% of the stock is owned by institutional investors.

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.