DoubleDown Interactive (NASDAQ:DDI) Stock Price Down 4.9%

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) were down 4.9% on Thursday . The company traded as low as $12.71 and last traded at $12.90. Approximately 19,576 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 30,787 shares. The stock had previously closed at $13.57.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DDI shares. Macquarie assumed coverage on shares of DoubleDown Interactive in a report on Monday, May 20th. They issued an “outperform” rating for the company. Wedbush increased their price target on shares of DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Northland Securities lifted their target price on DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Finally, B. Riley upped their price target on DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th.

DoubleDown Interactive Trading Down 4.2 %

The firm has a market cap of $644.19 million, a PE ratio of 5.91 and a beta of 0.83. The company’s 50 day moving average price is $12.88 and its 200 day moving average price is $12.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.68 and a quick ratio of 18.68.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Monday, August 12th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.19. DoubleDown Interactive had a return on equity of 15.62% and a net margin of 34.85%. The firm had revenue of $88.24 million during the quarter, compared to analysts’ expectations of $83.87 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. As a group, analysts forecast that DoubleDown Interactive Co., Ltd. will post 2.35 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors have recently bought and sold shares of the company. B. Riley Financial Inc. lifted its holdings in DoubleDown Interactive by 2.4% in the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock valued at $30,441,000 after acquiring an additional 96,740 shares during the period. Arbor Capital Management Inc. ADV acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at about $514,000. Finally, Renaissance Technologies LLC boosted its holdings in DoubleDown Interactive by 81.6% during the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after buying an additional 18,200 shares in the last quarter.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.