# Codere Online Luxembourg, S.A. (CDRO)

> Source: Nexqual · https://nexqual.com/CDRO · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Codere Online Luxembourg, S.A. (CDRO), nexqual.com/CDRO" · informational, not investment advice.

**Price:** USD 9.52 (+1.28% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 9.4 · day 9.26–9.58 · 52w 5.18–10.26 · market cap $433M · NCM

## Key facts
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $205K; 2 not under a Rule 10b5-1 plan ($29K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.50 on a 1–5 scale) (4 analysts), mean target USD 12.67 (range 10–16).
- Total return with dividends: 1Y +44.5% vs S&P 500 +14.9%; 5Y -4.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-16, EPS estimate USD 0.08, revenue estimate $61.8M.

## Insider sales (SEC Form 4, open-market, last ~7 months)
4 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-25 | Iglesias Sanchez Oscar | Director | 460 | $5K | 0.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-18 | Iglesias Sanchez Oscar | Director | 14,276 | $143K | 12.1% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-16 | Iglesias Sanchez Oscar | Director | 2,812 | $28K | 2.3% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-12…2026-06-15 | Iglesias Sanchez Oscar | Director | 2,430 | $24K | 2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-08 | Iglesias Sanchez Oscar | Director | 50 | $1K | 0% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-02 | Iglesias Sanchez Oscar | Director | 432 | $4K | 0.3% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.50 on a 1–5 scale), 4 analysts; mean target USD 12.67 (low 10, high 16).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +44.5% | -4.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +44.6% | -0.9% |
| Volatility (annualized) | 31.2% | 54.7% |
| Max drawdown | -17.6% (Oct 2025→Nov 2025) | -79.0% (Nov 2021→Jul 2022) |

## Peers (Gambling)
ACEL (Accel Entertainment, Inc.) USD 10.97 +1.76% · BRSL (Brightstar Lottery PLC Trading ) USD 9.56 +3.58% · RSI (Rush Street Interactive, Inc.) USD 16.36 -2.91% · SGHC (Super Group (SGHC) Limited) USD 11.35 +1.98% · CHDN (Churchill Downs, Incorporated) USD 84.45 +2.01% · DKNG (DraftKings Inc.) USD 20.94 +2.00%

## More
Full page: https://nexqual.com/CDRO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.08 | $0.05 | +71.3% | $61.8M | 2 |
| Next quarter (ends 2026-12-31) | $0.15 | $0.13 | +20.2% | $64.1M | 2 |
| Current fiscal year (ends 2026-12-31) | $0.36 | $0.43 | -15.8% | $257.4M | 2 |
| Next fiscal year (ends 2027-12-31) | $0.61 | $0.42 | +44.9% | $273.3M | 2 |