Stifel Nicolaus Forecasts Strong Price Appreciation for Codere Online Luxembourg (NASDAQ:CDRO) Stock

Codere Online Luxembourg (NASDAQ:CDRO) had its target price increased by Stifel Nicolaus from $8.50 to $9.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 5.94% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Benchmark reiterated 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 report on Tuesday, February 10th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.00.

Codere Online Luxembourg Stock Down 0.9%

Shares of NASDAQ CDRO traded down $0.08 during mid-day trading on Thursday, reaching $8.50. The company had a trading volume of 12,053 shares, compared to its average volume of 12,313. The business’s 50-day simple moving average is $7.99 and its 200 day simple moving average is $7.36. Codere Online Luxembourg has a one year low of $5.18 and a one year high of $8.77.

Hedge Funds Weigh In On Codere Online Luxembourg

Institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC increased its stake in shares of Codere Online Luxembourg by 1,923.1% in the third quarter. Wolverine Asset Management LLC now owns 6,818 shares of the company’s stock valued at $47,000 after buying an additional 6,481 shares during the period. Susquehanna International Group LLP acquired a new stake in Codere Online Luxembourg during the 3rd quarter worth approximately $90,000. Millennium Management LLC grew its holdings in 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 acquiring an additional 24,438 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Codere Online Luxembourg during the 3rd quarter worth approximately $203,000. Finally, Mmbg Investment Advisors CO. increased its position in Codere Online Luxembourg by 23.9% in the 3rd quarter. Mmbg Investment Advisors CO. now owns 366,325 shares of the company’s stock valued at $2,528,000 after acquiring an additional 70,625 shares during the period. Institutional investors and hedge funds own 10.30% of the company’s stock.

About Codere Online Luxembourg

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.