Codere Online (CDRO)

Market Cap: $349M

About: Codere Online Luxembourg SA is an international online casino gaming and online sports betting group focused on providing its customers with a safe and enjoyable online gaming experience. It currently operates in Spain, Italy, Mexico, Colombia, Panama and in the City of Buenos Aires where it offers its users the ability to play online casino games and bet on sports events. Online casino offerings include the full portfolio of games typically available in land-based casinos, gaming halls and gambling establishments, such as slot machines, table games and bingo. Online sports betting involves a user placing a wager on an event at some fixed odds determined by Codere Online. If the user wins, it pays out the bet. If the user loses, it keeps the amount wagered.

Employees: 255

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

150% more repeat investments, than reductions

Existing positions increased: 5 | Existing positions reduced: 2

25% more funds holding

Funds holding: 8 [Q1] → 10 (+2) [Q2]

11% more capital invested

Capital invested by funds: $32.6M [Q1] → $36.1M (+$3.47M) [Q2]

0.68% less ownership

Funds ownership: 10.45% [Q1] → 9.77% (-0.68%) [Q2]

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $10 30% upside
• Avg. target: $10 30% upside
• High target: $10 30% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

Craig-Hallum Chase Knickerbocker 44% 1-year accuracy 8 / 18 met price target

30% upside $10

Buy Initiated

11 Jul 2024