DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Receives Average Recommendation of “Hold” from Brokerages

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) has been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $15.6667.

DDI has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wedbush dropped their price target on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings raised shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Freedom Capital downgraded shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th.

DoubleDown Interactive Stock Up 1.8%

Shares of NASDAQ DDI opened at $11.69 on Friday. The firm’s 50-day moving average price is $10.27 and its 200-day moving average price is $9.35. The company has a market cap of $579.24 million, a PE ratio of 5.08 and a beta of 1.02. DoubleDown Interactive has a 52-week low of $8.09 and a 52-week high of $12.35.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The firm had revenue of $94.12 million for the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. As a group, equities research analysts anticipate that DoubleDown Interactive will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in shares of DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after buying an additional 19,256 shares during the last quarter. Aristides Capital LLC boosted its holdings in shares of DoubleDown Interactive by 15.5% in the first quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock worth $334,000 after buying an additional 5,297 shares during the last quarter. Corient Private Wealth LLC purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth approximately $94,000. XTX Topco Ltd purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth approximately $118,000. Finally, Quadrature Capital Ltd purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth approximately $180,000.

About DoubleDown Interactive

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.