Codere Online Luxembourg (NASDAQ:CDRO) Director Sells 14,276 Shares of Stock

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) Director Sanchez Oscar Iglesias sold 14,276 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $10.04, for a total transaction of $143,331.04. Following the transaction, the director owned 104,111 shares in the company, valued at approximately $1,045,274.44. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sanchez Oscar Iglesias also recently made the following trade(s):

• On Tuesday, June 16th, Sanchez Oscar Iglesias sold 2,812 shares of Codere Online Luxembourg stock. The shares were sold at an average price of $10.01, for a total transaction of $28,148.12.
• On Monday, June 8th, Sanchez Oscar Iglesias sold 50 shares of Codere Online Luxembourg stock. The shares were sold at an average price of $10.00, for a total transaction of $500.00.
• On Tuesday, June 2nd, Sanchez Oscar Iglesias sold 432 shares of Codere Online Luxembourg stock. The stock was sold at an average price of $10.01, for a total transaction of $4,324.32.

Codere Online Luxembourg Trading Down 1.4%

Codere Online Luxembourg stock traded down $0.14 during midday trading on Tuesday, hitting $9.71. 13,723 shares of the company’s stock were exchanged, compared to its average volume of 22,003. Codere Online Luxembourg, S.A. has a 12-month low of $5.18 and a 12-month high of $10.26. The firm’s 50 day simple moving average is $9.29 and its 200 day simple moving average is $8.42.

Institutional Trading of Codere Online Luxembourg

Several hedge funds have recently modified their holdings of CDRO. UBS Group AG grew its holdings in Codere Online Luxembourg by 156.2% during the third quarter. UBS Group AG now owns 512,884 shares of the company’s stock worth $3,539,000 after acquiring an additional 312,664 shares during the period. Squarepoint Ops LLC acquired a new stake in Codere Online Luxembourg in the third quarter valued at $203,000. Millennium Management LLC lifted its holdings 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 acquiring an additional 24,438 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Codere Online Luxembourg during the 3rd quarter worth $90,000. Finally, FNY Investment Advisers LLC boosted its position in shares of Codere Online Luxembourg by 20.8% during the 3rd quarter. FNY Investment Advisers LLC now owns 671,025 shares of the company’s stock worth $4,630,000 after purchasing an additional 115,578 shares in the last quarter. 10.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings raised Codere Online Luxembourg from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Stifel Nicolaus set a $10.00 price objective on shares of Codere Online Luxembourg in a research report on Friday, May 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.00.

Codere Online Luxembourg Company 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.