DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Receives Average Rating of “Moderate Buy” from Analysts

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.60.

Several brokerages have recently issued reports on DDI. Wedbush restated an “outperform” rating and issued a $21.00 target price on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Wall Street Zen upgraded shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Zacks Research lowered DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Loop Capital set a $16.00 target price on DoubleDown Interactive in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, October 8th.

Hedge Funds Weigh In On DoubleDown Interactive

A number of institutional investors have recently modified their holdings of DDI. SG Americas Securities LLC raised its position in DoubleDown Interactive by 84.4% in the 4th quarter. SG Americas Securities LLC now owns 63,016 shares of the company’s stock valued at $544,000 after purchasing an additional 28,850 shares during the last quarter. Stonehill Capital Management LLC raised its holdings in shares of DoubleDown Interactive by 49.1% in the third quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock valued at $1,780,000 after buying an additional 62,735 shares during the last quarter. Millennium Management LLC boosted its stake in shares of DoubleDown Interactive by 100.2% during the third quarter. Millennium Management LLC now owns 116,677 shares of the company’s stock worth $1,090,000 after buying an additional 58,395 shares during the period. Citadel Advisors LLC grew its holdings in shares of DoubleDown Interactive by 261.4% during the third quarter. Citadel Advisors LLC now owns 60,163 shares of the company’s stock worth $562,000 after buying an additional 43,517 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in DoubleDown Interactive by 10.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,357,163 shares of the company’s stock valued at $12,676,000 after acquiring an additional 126,031 shares during the period.

DoubleDown Interactive Trading Up 1.5%

DDI opened at $9.01 on Tuesday. DoubleDown Interactive has a one year low of $8.09 and a one year high of $11.25. The business’s 50-day simple moving average is $8.92 and its 200-day simple moving average is $9.24.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The firm had revenue of $95.85 million during the quarter, compared to the consensus estimate of $94.28 million. DoubleDown Interactive had a return on equity of 12.92% and a net margin of 32.94%. On average, analysts expect that DoubleDown Interactive will post 2.28 earnings per share for the current year.

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.