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

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totaling 21,946 shares, a decline of 40.6% from the August 31st total of 36,965 shares. Based on an average daily volume of 154,320 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

DoubleDown Interactive Trading Down 1.0%

Shares of DoubleDown Interactive stock opened at $13.16 on Friday. The firm’s 50 day moving average is $12.55 and its 200 day moving average is $11.27. The firm has a market capitalization of $652.08 million, a PE ratio of 5.22 and a beta of 1.05. DoubleDown Interactive has a 1 year low of $8.10 and a 1 year high of $13.40. The company has a current ratio of 18.67, a quick ratio of 18.67 and a debt-to-equity ratio of 0.03.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. The business had revenue of $94.29 million during the quarter, compared to the consensus estimate of $92.90 million. Equities research analysts forecast that DoubleDown Interactive will post 2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on DDI. B. Riley Financial raised their target price on DoubleDown Interactive from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Institutional Investors Weigh In On DoubleDown Interactive

Hedge funds have recently modified their holdings of the company. 683 Capital Management LLC boosted its stake in shares of DoubleDown Interactive by 66.7% during the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after purchasing an additional 200,000 shares in the last quarter. Potomac Capital Management Inc. acquired a new position in shares of DoubleDown Interactive in the fourth quarter valued at approximately $683,000. Whetstone Capital Advisors LLC acquired a new position in shares of DoubleDown Interactive in the fourth quarter valued at approximately $173,000. Renaissance Technologies LLC raised its holdings in DoubleDown Interactive by 35.7% in the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock valued at $619,000 after buying an additional 19,256 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in DoubleDown Interactive in the 2nd quarter valued at approximately $155,000.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.