Mmbg Investment Advisors CO. Grows Position in Codere Online Luxembourg, S.A. $CDRO

Mmbg Investment Advisors CO. raised its stake in Codere Online Luxembourg, S.A. (NASDAQ:CDRO) by 23.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 366,325 shares of the company’s stock after acquiring an additional 70,625 shares during the period. Mmbg Investment Advisors CO. owned approximately 0.80% of Codere Online Luxembourg worth $2,528,000 as of its most recent SEC filing.

Separately, Wolverine Asset Management LLC boosted its stake 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 valued at $47,000 after buying an additional 6,481 shares during the last quarter. 10.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CDRO shares. Benchmark reissued a “hold” rating on shares of Codere Online Luxembourg in a report on Monday, December 1st. Stifel Nicolaus cut shares of Codere Online Luxembourg from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $9.00 to $8.50 in a research note on Friday, January 30th. Finally, Weiss Ratings upgraded 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, the company currently has a consensus rating of “Hold” and a consensus target price of $8.50.

Codere Online Luxembourg Stock Up 1.1%

CDRO stock opened at $7.94 on Monday. Codere Online Luxembourg, S.A. has a 12 month low of $5.18 and a 12 month high of $8.75. The company has a 50-day moving average price of $7.83 and a 200 day moving average price of $7.40.

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.