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

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.75.

A number of analysts have commented on the stock. Freedom Capital cut shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings raised shares of DoubleDown Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen cut shares of DoubleDown Interactive from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd.

Institutional Trading of DoubleDown Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its holdings in DoubleDown Interactive by 338.6% during the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after buying an additional 2,397 shares during the last quarter. Four Tree Island Advisory LLC purchased a new stake in DoubleDown Interactive during the fourth quarter valued at approximately $93,000. Corient Private Wealth LLC purchased a new stake in DoubleDown Interactive during the fourth quarter valued at approximately $94,000. XTX Topco Ltd purchased a new stake in DoubleDown Interactive during the fourth quarter valued at approximately $118,000. Finally, Whetstone Capital Advisors LLC purchased a new stake in DoubleDown Interactive during the fourth quarter valued at approximately $173,000.

DoubleDown Interactive Price Performance

DDI opened at $11.60 on Monday. The firm has a 50 day moving average price of $9.07 and a 200-day moving average price of $8.94. DoubleDown Interactive has a twelve month low of $8.09 and a twelve month high of $11.71. The stock has a market capitalization of $574.78 million, a price-to-earnings ratio of 5.60 and a beta of 1.01.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.13). DoubleDown Interactive had a net margin of 28.48% and a return on equity of 11.27%. The company had revenue of $95.79 million for the quarter, compared to analysts’ expectations of $99.61 million. As a group, analysts expect that DoubleDown Interactive will post 2.27 earnings per share for the current year.

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.