Codere Online Luxembourg (NASDAQ:CDRO) Shares Up 2.1% – Here’s Why

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) rose 2.1% on Wednesday . The company traded as high as $7.34 and last traded at $7.19. Approximately 35,067 shares changed hands during trading, a decline of 28% from the average daily volume of 48,648 shares. The stock had previously closed at $7.04.

Analyst Ratings Changes

Separately, Stifel Nicolaus reaffirmed a “buy” rating and issued a $10.00 target price on shares of Codere Online Luxembourg in a research report on Monday, December 30th.

Codere Online Luxembourg Stock Performance

The company has a 50-day moving average of $7.08 and a 200-day moving average of $7.47.

Institutional Trading of Codere Online Luxembourg

A number of institutional investors and hedge funds have recently made changes to their positions in CDRO. Raymond James Financial Inc. bought a new stake in Codere Online Luxembourg in the 4th quarter valued at about $64,000. Geode Capital Management LLC increased its stake in shares of Codere Online Luxembourg by 25.0% in the fourth quarter. Geode Capital Management LLC now owns 13,600 shares of the company’s stock valued at $88,000 after purchasing an additional 2,723 shares during the period. Hood River Capital Management LLC raised its holdings in shares of Codere Online Luxembourg by 64.7% during the fourth quarter. Hood River Capital Management LLC now owns 25,596 shares of the company’s stock valued at $165,000 after buying an additional 10,059 shares during the last quarter. Diametric Capital LP boosted its position in shares of Codere Online Luxembourg by 183.3% during the fourth quarter. Diametric Capital LP now owns 38,743 shares of the company’s stock worth $250,000 after buying an additional 25,068 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in Codere Online Luxembourg in the 4th quarter worth approximately $364,000. 10.30% of the stock is currently owned by institutional investors and hedge funds.

Codere Online Luxembourg Company Profile

Codere Online Luxembourg, SA operates as an online casino gaming and sports betting company. It also offers online casino wagering products and services, as well as online gambling and other online services. The company offers its products under the Codere and Greenplay brand names. It primarily operates in Spain, Italy, Mexico, Colombia, the United Kingdom, Germany, South Africa, Austria, Malta, Panama, and Argentina.