Codere Online Luxembourg (NASDAQ:CDRO) Lowered to Hold Rating by 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 report published on Sunday.

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

Codere Online Luxembourg Price Performance

Shares of CDRO stock opened at $8.97 on Friday. Codere Online Luxembourg has a 12-month low of $5.18 and a 12-month high of $10.26. The stock’s 50-day moving average price is $9.49 and its 200-day moving average price is $8.82.

Insider Transactions at Codere Online Luxembourg

In related news, Director Sanchez Oscar Iglesias sold 14,276 shares of Codere Online Luxembourg stock in a transaction that occurred 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 $1,045,274.44. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,570 shares of company stock worth $176,303 over the last 90 days. Company insiders own 1.16% of the company’s stock.

Institutional Trading of Codere Online Luxembourg

Several hedge funds and other institutional investors have recently bought and sold shares of CDRO. Susquehanna International Group LLP bought a new position in shares of Codere Online Luxembourg in the 3rd quarter worth $90,000. Squarepoint Ops LLC bought a new stake in Codere Online Luxembourg during the third quarter valued at about $203,000. Millennium Management LLC grew its stake 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 during the last quarter. Finally, UBS Group AG grew its stake in 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 last quarter. Institutional investors 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.