Stifel Nicolaus Issues Positive Forecast for Codere Online Luxembourg (NASDAQ:CDRO) Stock Price

Codere Online Luxembourg (NASDAQ:CDRO) had its target price increased by Stifel Nicolaus from $8.50 to $9.00 in a research note released on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

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

Codere Online Luxembourg Stock Down 0.7%

CDRO stock opened at $8.51 on Thursday. Codere Online Luxembourg has a fifty-two week low of $5.18 and a fifty-two week high of $8.77. The business has a 50-day moving average of $8.00 and a 200-day moving average of $7.36.

Institutional Investors Weigh In On Codere Online Luxembourg

Several hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC boosted its position in Codere Online Luxembourg by 1,923.1% during the third quarter. Wolverine Asset Management LLC now owns 6,818 shares of the company’s stock worth $47,000 after purchasing an additional 6,481 shares during the period. Mmbg Investment Advisors CO. raised its position in shares of Codere Online Luxembourg by 23.9% in the third quarter. Mmbg Investment Advisors CO. now owns 366,325 shares of the company’s stock valued at $2,528,000 after purchasing an additional 70,625 shares during the period. UBS Group AG raised its position in shares of Codere Online Luxembourg by 156.2% in the third 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. Squarepoint Ops LLC acquired a new stake in shares of Codere Online Luxembourg during the 3rd quarter worth about $203,000. Finally, Millennium Management LLC lifted its stake 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 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.