DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Sees Large Drop in Short Interest

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 25,187 shares, a decrease of 54.8% from the May 31st total of 55,746 shares. Based on an average daily volume of 112,081 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Trading of DoubleDown Interactive

A number of institutional investors and hedge funds have recently modified their holdings of DDI. Goldman Sachs Group Inc. grew its stake in DoubleDown Interactive by 127.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after buying an additional 16,128 shares during the last quarter. Acadian Asset Management LLC lifted its position in DoubleDown Interactive by 124.7% during the 1st quarter. Acadian Asset Management LLC now owns 60,282 shares of the company’s stock worth $591,000 after acquiring an additional 33,459 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in DoubleDown Interactive by 130.2% during the second quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock valued at $11,782,000 after acquiring an additional 696,366 shares during the period. Hudson Bay Capital Management LP bought a new stake in DoubleDown Interactive during the second quarter valued at about $5,759,000. Finally, Osaic Holdings Inc. grew its position in shares of DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after purchasing an additional 2,397 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on DDI. Wedbush decreased their price objective on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, DoubleDown Interactive presently has a consensus rating of “Hold” and a consensus price target of $15.50.

DoubleDown Interactive Stock Up 0.1%

Shares of NASDAQ:DDI traded up $0.01 on Tuesday, reaching $11.46. The company had a trading volume of 25,852 shares, compared to its average volume of 106,153. The stock has a market capitalization of $567.88 million, a P/E ratio of 4.98 and a beta of 1.02. The stock has a 50-day moving average price of $11.20 and a 200 day moving average price of $9.62. DoubleDown Interactive has a twelve month low of $8.10 and a twelve month high of $12.35.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The business had revenue of $94.12 million for the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%. On average, sell-side analysts predict that DoubleDown Interactive will post 2.51 earnings per share for the current fiscal year.

DoubleDown Interactive Company Profile

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.