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

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

Other research analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Codere Online Luxembourg from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Stifel Nicolaus set a $10.00 price objective 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, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

Codere Online Luxembourg Price Performance

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

Insider Buying and Selling

In other Codere Online Luxembourg news, Director Sanchez Oscar Iglesias sold 14,276 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $10.04, for a total value of $143,331.04. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,570 shares of company stock valued at $176,303. Insiders own 1.16% of the company’s stock.

Institutional Trading of Codere Online Luxembourg

Hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP bought a new stake in shares of Codere Online Luxembourg in the third quarter worth $90,000. Millennium Management LLC grew its position in 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 in the last quarter. Squarepoint Ops LLC bought a new position in Codere Online Luxembourg in the third quarter valued at $203,000. FNY Investment Advisers LLC increased its stake in 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 last quarter. Finally, UBS Group AG increased its stake 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 buying an additional 312,664 shares during the last quarter. 10.30% of the stock is currently owned by institutional investors and hedge funds.

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.