Codere Online Luxembourg (NASDAQ:CDRO) Stock Price Down 1.9% - Here's Why

Key Points

• Codere Online Luxembourg's stock price fell by 1.9%, trading at $6.82, with an increase in trading volume by 64% compared to the average daily volume.
• The company has a debt-to-equity ratio of 0.15 and a quick ratio of 1.40, indicating some stability in its financial health.
• Institutional ownership of Codere Online Luxembourg is at 10.30%, with FNY Investment Advisers LLC increasing its stake by 30.8% in the second quarter.

Shares of Codere Online Luxembourg, S.A. (NASDAQ:CDRO - ) dropped 1.9% during mid-day trading on Monday . The company traded as low as $6.81 and last traded at $6.82. Approximately 95,856 shares changed hands during trading, an increase of 64% from the average daily volume of 58,304 shares. The stock had previously closed at $6.95.

Codere Online Luxembourg Stock Down 1.9%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a 50-day simple moving average of $8.15 and a 200-day simple moving average of $7.71.

Institutional Trading of Codere Online Luxembourg

A hedge fund recently raised its stake in Codere Online Luxembourg stock. FNY Investment Advisers LLC increased its position in Codere Online Luxembourg, S.A. (NASDAQ:CDRO - Free Report) by 30.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 555,447 shares of the company's stock after buying an additional 130,786 shares during the quarter. Codere Online Luxembourg comprises approximately 2.0% of FNY Investment Advisers LLC's holdings, making the stock its 4th largest position. FNY Investment Advisers LLC owned approximately 1.22% of Codere Online Luxembourg worth $4,715,000 at the end of the most recent quarter. Institutional investors and hedge funds own 10.30% of the company's stock.

About Codere Online Luxembourg

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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