Codere Online Luxembourg (NASDAQ:CDRO) Shares Down 2.3% - Here's Why

Key Points

• Shares of Codere Online Luxembourg (NASDAQ:CDRO) fell 2.3%, trading at $8.50 after hitting a low of $8.49 during mid-day trading.
• The company's trading volume was approximately 8,526 shares, a decline of 64% compared to its average daily volume of 23,817 shares.
• Institutional investors now hold 10.30% of Codere Online's stock, with notable acquisitions made by Raymond James Financial Inc. and Geode Capital Management LLC in recent months.

Shares of Codere Online Luxembourg, S.A. (NASDAQ:CDRO - ) dropped 2.3% during mid-day trading on Monday . The stock traded as low as $8.49 and last traded at $8.50. Approximately 8,526 shares traded hands during trading, a decline of 64% from the average daily volume of 23,817 shares. The stock had previously closed at $8.70.

Codere Online Luxembourg Stock Performance

The firm has a fifty day simple moving average of $8.26 and a 200-day simple moving average of $7.69. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Codere Online Luxembourg

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Codere Online Luxembourg during the fourth quarter worth about $64,000. Geode Capital Management LLC boosted its stake in shares of Codere Online Luxembourg by 25.0% during the fourth quarter. Geode Capital Management LLC now owns 13,600 shares of the company's stock worth $88,000 after buying an additional 2,723 shares during the period. Finally, FNY Investment Advisers LLC boosted its stake in shares of Codere Online Luxembourg by 15.3% during the first quarter. FNY Investment Advisers LLC now owns 424,661 shares of the company's stock worth $3,078,000 after buying an additional 56,484 shares during the period. Institutional investors and hedge funds own 10.30% of the company's stock.

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.

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