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

by · The Markets Daily

Codere Online Luxembourg (NASDAQ:CDRO – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other equities analysts also recently commented on the company. 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 target price on shares of Codere Online Luxembourg in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Codere Online Luxembourg has a consensus rating of “Hold” and a consensus price target of $10.00.

Read Our Latest Report on CDRO

Codere Online Luxembourg Trading Down 1.3%

Shares of NASDAQ CDRO opened at $8.85 on Friday. Codere Online Luxembourg has a fifty-two week low of $5.18 and a fifty-two week high of $10.26. The business’s 50 day moving average price is $9.48 and its 200-day moving average price is $8.82.

Insider Activity

In related news, Director Sanchez Oscar Iglesias sold 14,276 shares of the 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 transaction, the director owned 104,111 shares of the company’s stock, valued at $1,045,274.44. This represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,570 shares of company stock valued at $176,303 in the last ninety days. 1.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Codere Online Luxembourg

Several hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP purchased a new position in shares of Codere Online Luxembourg during the third quarter valued at $90,000. Squarepoint Ops LLC purchased a new position in Codere Online Luxembourg during the 3rd quarter valued at about $203,000. Millennium Management LLC increased its position in Codere Online Luxembourg by 73.3% during the 3rd 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. Finally, UBS Group AG raised its holdings 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 in the last quarter. 10.30% of the stock is currently owned by hedge funds and other institutional investors.

Codere Online Luxembourg Company Profile

(Get Free Report)

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.

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