Potomac Capital Management Inc. Takes $683,000 Position in DoubleDown Interactive Co., Ltd. Sponsored ADR $DDI

Potomac Capital Management Inc. purchased a new stake in shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 79,100 shares of the company’s stock, valued at approximately $683,000.

A number of other hedge funds have also recently made changes to their positions in DDI. Ameriprise Financial Inc. grew its position in shares of DoubleDown Interactive by 130.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock valued at $11,782,000 after purchasing an additional 696,366 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of DoubleDown Interactive during the 2nd quarter valued at $5,759,000. Stonehill Capital Management LLC grew its position in shares of DoubleDown Interactive by 49.1% during the 3rd quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock valued at $1,780,000 after purchasing an additional 62,735 shares in the last quarter. Millennium Management LLC grew its position in shares of DoubleDown Interactive by 100.2% during the 3rd quarter. Millennium Management LLC now owns 116,677 shares of the company’s stock valued at $1,090,000 after purchasing an additional 58,395 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in shares of DoubleDown Interactive by 261.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,163 shares of the company’s stock valued at $562,000 after purchasing an additional 43,517 shares in the last quarter.

DoubleDown Interactive Stock Performance

NASDAQ DDI opened at $11.48 on Wednesday. DoubleDown Interactive Co., Ltd. Sponsored ADR has a 52-week low of $8.09 and a 52-week high of $12.35. The company has a market capitalization of $568.83 million, a P/E ratio of 4.99 and a beta of 1.02. The company has a fifty day moving average of $10.44 and a 200-day moving average of $9.40.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. The company had revenue of $94.12 million during the quarter, compared to the consensus estimate of $94.26 million. As a group, analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DDI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Freedom Capital downgraded shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Wedbush dropped their price objective on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, DoubleDown Interactive has a consensus rating of “Hold” and an average target price of $15.67.

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.