DoubleDown Interactive (NASDAQ:DDI) Stock Gets Downgrade from B. Riley Financial

DoubleDown Interactive (NASDAQ:DDI) was downgraded by investment analysts at B. Riley Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Marketbeat reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a report on Wednesday, November 4th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.19.

DoubleDown Interactive Stock Down 0.1%

Shares of NASDAQ:DDI opened at $15.70 on Monday. DoubleDown Interactive has a 1-year low of $8.10 and a 1-year high of $15.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The stock has a market cap of $777.93 million, a P/E ratio of 7.05 and a beta of 1.11. The firm has a fifty day moving average price of $13.48 and a 200 day moving average price of $11.25.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Wednesday, November 11th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.23). DoubleDown Interactive had a net margin of 29.25% and a return on equity of 11.29%. The business had revenue of $94.27 million during the quarter, compared to analyst estimates of $92.64 million. Sell-side analysts predict that DoubleDown Interactive will post 2.58 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners raised its position in DoubleDown Interactive by 58.6% during the 3rd quarter. Boston Partners now owns 261,806 shares of the company’s stock worth $3,479,000 after buying an additional 96,755 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock valued at $619,000 after acquiring an additional 19,256 shares in the last quarter. Aristides Capital LLC increased its stake in shares of DoubleDown Interactive by 15.5% during the first quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock worth $334,000 after acquiring an additional 5,297 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of DoubleDown Interactive during the third quarter worth about $282,000. Finally, GAMMA Investing LLC increased its stake in shares of DoubleDown Interactive by 11.3% during the third quarter. GAMMA Investing LLC now owns 15,064 shares of the company’s stock worth $200,000 after acquiring an additional 1,532 shares during the period.

DoubleDown Interactive Company Profile

DoubleDown Interactive is a digital gaming company focused on developing and publishing social casino games for mobile devices and online platforms. Its flagship title, DoubleDown Casino, offers virtual slot machines and other casino-style games for entertainment, using virtual currency rather than real-money wagering. The company’s portfolio also includes other free-to-play casino games, which combine casino-style play with features such as in-game rewards and social interaction. Its games are distributed through app stores and web platforms and reach players in North America and other international markets.