DoubleDown Interactive (NASDAQ:DDI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DoubleDown Interactive (NASDAQ:DDI) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, Weiss Ratings downgraded shares of DoubleDown Interactive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.75.

DoubleDown Interactive Stock Performance

Shares of NASDAQ:DDI opened at $8.91 on Friday. The company’s 50-day moving average is $8.75 and its 200 day moving average is $8.89. The company has a market capitalization of $441.49 million, a P/E ratio of 4.30 and a beta of 0.84. DoubleDown Interactive has a fifty-two week low of $8.09 and a fifty-two week high of $11.25.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). The company had revenue of $95.79 million during the quarter, compared to analysts’ expectations of $99.61 million. DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%. As a group, research analysts predict that DoubleDown Interactive will post 2.28 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BRC Group Holdings Inc. raised its stake in DoubleDown Interactive by 0.8% in the 4th quarter. BRC Group Holdings Inc. now owns 3,477,440 shares of the company’s stock valued at $30,010,000 after acquiring an additional 26,937 shares during the period. Ameriprise Financial Inc. raised its stake 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. Hudson Bay Capital Management LP bought a new stake in DoubleDown Interactive in the 2nd quarter valued at about $5,759,000. 683 Capital Management LLC raised its stake in DoubleDown Interactive by 66.7% in the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after acquiring an additional 200,000 shares during the period. Finally, Stonehill Capital Management LLC raised its stake in DoubleDown Interactive by 49.1% in the 3rd quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock valued at $1,780,000 after acquiring an additional 62,735 shares during the period.

DoubleDown Interactive Company Profile

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.