Mmbg Investment Advisors CO. Acquires 70,625 Shares of Codere Online Luxembourg, S.A. $CDRO

Mmbg Investment Advisors CO. increased its stake in Codere Online Luxembourg, S.A. (NASDAQ:CDRO) by 23.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 366,325 shares of the company’s stock after acquiring an additional 70,625 shares during the quarter. Mmbg Investment Advisors CO.’s holdings in Codere Online Luxembourg were worth $2,528,000 at the end of the most recent quarter.

Separately, FNY Investment Advisers LLC raised its stake in shares of Codere Online Luxembourg by 30.8% during the second quarter. FNY Investment Advisers LLC now owns 555,447 shares of the company’s stock valued at $4,715,000 after acquiring an additional 130,786 shares in the last quarter. Hedge funds and other institutional investors own 10.30% of the company’s stock.

Analysts Set New Price Targets

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

Codere Online Luxembourg Trading Up 1.1%

NASDAQ CDRO opened at $7.94 on Monday. Codere Online Luxembourg, S.A. has a 52 week low of $5.18 and a 52 week 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.

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.