Codere Online Luxembourg (NASDAQ:CDRO) Price Target Raised to $9.00 at Stifel Nicolaus

Codere Online Luxembourg (NASDAQ:CDRO) had its price target hoisted by investment analysts at Stifel Nicolaus from $8.50 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 5.94% from the stock’s current price.

Several other research firms have also weighed in on CDRO. Weiss Ratings raised Codere Online Luxembourg from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Benchmark reissued a “hold” rating on shares of Codere Online Luxembourg in a research note on Monday, December 1st. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.00.

Codere Online Luxembourg Price Performance

Shares of CDRO traded down $0.08 during mid-day trading on Thursday, reaching $8.50. 12,053 shares of the company were exchanged, compared to its average volume of 12,313. Codere Online Luxembourg has a 52 week low of $5.18 and a 52 week high of $8.77. The business has a 50 day simple moving average of $7.99 and a two-hundred day simple moving average of $7.36.

Hedge Funds Weigh In On Codere Online Luxembourg

Institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC increased its stake in Codere Online Luxembourg by 26.8% during the 4th quarter. FNY Investment Advisers LLC now owns 851,178 shares of the company’s stock valued at $6,834,000 after purchasing an additional 180,153 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Codere Online Luxembourg in the third quarter valued at $90,000. Millennium Management LLC grew 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 buying an additional 24,438 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Codere Online Luxembourg during the third quarter valued at about $203,000. Finally, UBS Group AG increased its position in shares of Codere Online Luxembourg by 156.2% during the third 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 in the last quarter. 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.