Codere Online Luxembourg (NASDAQ:CDRO) Shares Up 2.1% – Still a Buy?

Shares of Codere Online Luxembourg, S.A. (NASDAQ:CDRO) were up 2.1% during mid-day trading on Wednesday . The stock traded as high as $7.34 and last traded at $7.19. Approximately 35,067 shares were traded during trading, a decline of 28% from the average daily volume of 48,648 shares. The stock had previously closed at $7.04.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus restated a “buy” rating and issued a $10.00 price objective on shares of Codere Online Luxembourg in a report on Monday, December 30th.

Codere Online Luxembourg Stock Up 3.7 %

The company’s 50 day moving average price is $7.08 and its 200-day moving average price is $7.47.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC boosted its stake in shares of Codere Online Luxembourg by 194.9% during the 4th quarter. FNY Investment Advisers LLC now owns 368,177 shares of the company’s stock worth $2,374,000 after acquiring an additional 243,330 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Codere Online Luxembourg during the fourth quarter valued at $364,000. Diametric Capital LP lifted its holdings in shares of Codere Online Luxembourg by 183.3% during the fourth quarter. Diametric Capital LP now owns 38,743 shares of the company’s stock valued at $250,000 after purchasing an additional 25,068 shares during the last quarter. Hood River Capital Management LLC boosted its position in shares of Codere Online Luxembourg by 64.7% in the 4th quarter. Hood River Capital Management LLC now owns 25,596 shares of the company’s stock valued at $165,000 after purchasing an additional 10,059 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Codere Online Luxembourg in the 4th quarter worth about $64,000. 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.