FNY Investment Advisers LLC Trims Position in Codere Online Luxembourg, S.A. $CDRO

FNY Investment Advisers LLC reduced its stake in Codere Online Luxembourg, S.A. (NASDAQ:CDRO) by 32.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 652,116 shares of the company’s stock after selling 310,310 shares during the period. Codere Online Luxembourg comprises 2.3% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 3rd largest position. FNY Investment Advisers LLC’s holdings in Codere Online Luxembourg were worth $6,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new stake in shares of Codere Online Luxembourg during the third quarter valued at approximately $90,000. Squarepoint Ops LLC bought a new position in shares of Codere Online Luxembourg in the third quarter worth approximately $203,000. Millennium Management LLC increased its stake in shares of Codere Online Luxembourg by 73.3% in the third quarter. Millennium Management LLC now owns 57,755 shares of the company’s stock worth $399,000 after buying an additional 24,438 shares during the period. Finally, UBS Group AG increased its stake in shares of Codere Online Luxembourg by 156.2% in the third quarter. UBS Group AG now owns 512,884 shares of the company’s stock worth $3,539,000 after buying an additional 312,664 shares during the period. Institutional investors own 10.30% of the company’s stock.

Insider Transactions at Codere Online Luxembourg

In related news, Director Sanchez Oscar Iglesias sold 14,276 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $10.04, for a total value of $143,331.04. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,570 shares of company stock valued at $176,303 over the last ninety days. 1.16% of the stock is owned by corporate insiders.

Codere Online Luxembourg Stock Up 0.1%

Shares of CDRO opened at $8.91 on Friday. The firm’s 50-day moving average price is $9.50 and its 200-day moving average price is $8.81. Codere Online Luxembourg, S.A. has a 1-year low of $5.18 and a 1-year high of $10.26.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus set a $10.00 price target on shares of Codere Online Luxembourg in a report on Friday, May 8th. Weiss Ratings raised shares of Codere Online Luxembourg from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Wall Street Zen cut shares of Codere Online Luxembourg from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

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.