Weiss Ratings Reiterates "Hold (C-)" Rating for Codere Online Luxembourg (NASDAQ:CDRO)

Key Points

• Weiss Ratings maintained a "Hold (C-)" rating for Codere Online Luxembourg (NASDAQ:CDRO), indicating a cautious outlook on the stock.
• Codere's stock traded down by 0.1% to $6.80, with a trading volume significantly lower than its average.
• FNY Investment Advisers LLC raised its stake in Codere by 30.8% during the second quarter, now owning approximately 10.30% of the company’s stock.

Codere Online Luxembourg (NASDAQ:CDRO - Get Free Report)'s stock had its "hold (c-)" rating reissued by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Codere Online Luxembourg Trading Down 0.1%

CDRO traded down $0.01 during mid-day trading on Wednesday, hitting $6.80. The stock had a trading volume of 29,246 shares, compared to its average volume of 76,075. The stock's fifty day simple moving average is $7.79 and its 200-day simple moving average is $7.68. Codere Online Luxembourg has a 1-year low of $5.75 and a 1-year high of $8.76.

Institutional Investors Weigh In On Codere Online Luxembourg

A hedge fund recently raised its stake in Codere Online Luxembourg stock. FNY Investment Advisers LLC increased its stake in shares of Codere Online Luxembourg, S.A. (NASDAQ:CDRO - Free Report) by 30.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 555,447 shares of the company's stock after acquiring an additional 130,786 shares during the period. Codere Online Luxembourg comprises about 2.0% of FNY Investment Advisers LLC's portfolio, making the stock its 4th largest position. FNY Investment Advisers LLC owned about 1.22% of Codere Online Luxembourg worth $4,715,000 as of its most recent filing with the Securities & Exchange Commission. 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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