Codere Online Luxembourg (NASDAQ:CDRO) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Codere Online Luxembourg (NASDAQ:CDRO) from a buy rating to a hold rating in a research report sent to investors on Sunday.

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

Codere Online Luxembourg Stock Up 0.8%

Shares of NASDAQ CDRO opened at $8.92 on Friday. The business has a 50-day moving average of $9.47 and a two-hundred day moving average of $8.83. Codere Online Luxembourg has a 1 year low of $5.18 and a 1 year high of $10.26.

Insiders Place Their Bets

In other Codere Online Luxembourg news, Director Sanchez Oscar Iglesias sold 14,276 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $10.04, for a total transaction of $143,331.04. Following the transaction, the director directly owned 104,111 shares of the company’s stock, valued at approximately $1,045,274.44. This trade represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 17,570 shares of company stock worth $176,303. 1.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Codere Online Luxembourg

Several hedge funds have recently made changes to their positions in the business. UBS Group AG increased its position in 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 acquiring an additional 312,664 shares during the period. Millennium Management LLC increased its holdings in shares of 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. Squarepoint Ops LLC purchased a new stake in shares of Codere Online Luxembourg during the third quarter worth approximately $203,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Codere Online Luxembourg during the third quarter worth approximately $90,000. 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.