DoubleDown Interactive (NASDAQ:DDI) Shares Down 5% After Analyst Downgrade

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares traded down 5% during mid-day trading on Wednesday after Northland Securities lowered their price target on the stock from $21.00 to $18.00. Northland Securities currently has an outperform rating on the stock. DoubleDown Interactive traded as low as $10.18 and last traded at $10.27. 33,431 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 34,613 shares. The stock had previously closed at $10.80.

Separately, Wedbush increased their price objective on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th.

Institutional Trading of DoubleDown Interactive

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new position in DoubleDown Interactive during the 3rd quarter worth approximately $81,000. Heck Capital Advisors LLC acquired a new stake in shares of DoubleDown Interactive in the 4th quarter valued at approximately $76,000. Raymond James Financial Inc. acquired a new stake in shares of DoubleDown Interactive in the 4th quarter valued at approximately $153,000. Boston Partners bought a new position in DoubleDown Interactive during the 4th quarter worth $354,000. Finally, Sanctuary Advisors LLC bought a new position in DoubleDown Interactive during the 3rd quarter worth $2,026,000.

DoubleDown Interactive Stock Down 6.5 %

The company has a current ratio of 21.25, a quick ratio of 21.25 and a debt-to-equity ratio of 0.05. The stock has a market cap of $500.11 million, a P/E ratio of 4.46 and a beta of 0.94. The firm has a 50-day simple moving average of $10.85 and a two-hundred day simple moving average of $12.91.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). DoubleDown Interactive had a net margin of 33.28% and a return on equity of 14.78%. The business had revenue of $82.98 million during the quarter, compared to analyst estimates of $83.49 million. During the same period last year, the business earned $0.54 earnings per share. Equities research analysts expect that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current fiscal year.

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.