Codere Online Luxembourg, S.A. $CDRO Holdings Lifted by FNY Investment Advisers LLC

Key Points

• FNY Investment Advisers LLC increased its stake in Codere Online (NASDAQ:CDRO) by 26.8% in Q4 to 851,178 shares (about $6.83M), making it the firm's eighth-largest holding.
• Other institutions also boosted positions — notably UBS (up 156% to 512,884 shares), Millennium and Mmbg — and institutional investors collectively own about 10.30% of CDRO.
• Shares opened at $8.50 (52-week range $5.18–$8.77) and analysts have a consensus Hold rating with a $9.00 price target.

FNY Investment Advisers LLC lifted its position in shares of Codere Online Luxembourg, S.A. (NASDAQ:CDRO - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 851,178 shares of the company's stock after buying an additional 180,153 shares during the quarter. Codere Online Luxembourg makes up 1.9% of FNY Investment Advisers LLC's investment portfolio, making the stock its 8th largest position. FNY Investment Advisers LLC owned about 1.86% of Codere Online Luxembourg worth $6,834,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Mmbg Investment Advisors CO. boosted its position in Codere Online Luxembourg by 23.9% during the third quarter. Mmbg Investment Advisors CO. now owns 366,325 shares of the company's stock worth $2,528,000 after acquiring an additional 70,625 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in Codere Online Luxembourg by 1,923.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 6,818 shares of the company's stock valued at $47,000 after acquiring an additional 6,481 shares during the last quarter. UBS Group AG lifted its stake in shares of Codere Online Luxembourg by 156.2% during the 3rd quarter. UBS Group AG now owns 512,884 shares of the company's stock worth $3,539,000 after purchasing an additional 312,664 shares during the period. Millennium Management LLC boosted its holdings in shares of Codere Online Luxembourg by 73.3% during the third quarter. Millennium Management LLC now owns 57,755 shares of the company's stock worth $399,000 after purchasing an additional 24,438 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Codere Online Luxembourg during the third quarter worth $203,000. Institutional investors and hedge funds own 10.30% of the company's stock.

Codere Online Luxembourg Trading Up 0.4%

Shares of CDRO opened at $8.50 on Friday. Codere Online Luxembourg, S.A. has a fifty-two week low of $5.18 and a fifty-two week high of $8.77. The company's fifty day moving average is $8.07 and its two-hundred day moving average is $7.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings upgraded Codere Online Luxembourg from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, February 10th. Stifel Nicolaus lifted their price target on Codere Online Luxembourg from $8.50 to $9.00 and gave the company a "hold" rating in a report on Thursday, March 26th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $9.00.

Codere Online Luxembourg 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.

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