Codere Online Luxembourg, S.A. $CDRO Position Lifted by FNY Investment Advisers LLC

FNY Investment Advisers LLC raised its holdings in shares of Codere Online Luxembourg, S.A. (NASDAQ:CDRO) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 671,025 shares of the company’s stock after buying an additional 115,578 shares during the period. Codere Online Luxembourg comprises 1.5% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 6th largest position. FNY Investment Advisers LLC owned 1.47% of Codere Online Luxembourg worth $4,630,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wolverine Asset Management LLC increased its position 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 worth $47,000 after acquiring an additional 6,481 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Codere Online Luxembourg during the 3rd quarter valued at $90,000. Squarepoint Ops LLC purchased a new stake in Codere Online Luxembourg during the 3rd quarter worth $203,000. Millennium Management LLC boosted 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 worth $399,000 after purchasing an additional 24,438 shares during the period. Finally, Mmbg Investment Advisors CO. increased its holdings 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 purchasing an additional 70,625 shares in the last quarter. 10.30% of the stock is currently owned by hedge funds and other institutional investors.

Codere Online Luxembourg Stock Performance

Shares of CDRO stock opened at $8.14 on Thursday. The firm has a fifty day simple moving average of $7.93 and a 200-day simple moving average of $7.36. Codere Online Luxembourg, S.A. has a twelve month low of $5.18 and a twelve month high of $8.75.

Analysts Set New Price Targets

Several research firms have commented on CDRO. Benchmark reissued a “hold” rating on shares of Codere Online Luxembourg in a research report on Monday, December 1st. Stifel Nicolaus downgraded Codere Online Luxembourg from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $8.50 in a research report on Friday, January 30th. Finally, Weiss Ratings upgraded Codere Online Luxembourg from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.50.

Codere Online Luxembourg Profile

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.