DoubleDown Interactive (NASDAQ:DDI) Hits New 1-Year High – Here’s Why

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $13.29 and last traded at $13.26, with a volume of 63750 shares trading hands. The stock had previously closed at $13.06.

Wall Street Analyst Weigh In

Several research firms have weighed in on DDI. B. Riley Financial upped their target price on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

DoubleDown Interactive Trading Up 1.3%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67. The firm has a market cap of $655.69 million, a price-to-earnings ratio of 5.25 and a beta of 1.03. The business has a fifty day simple moving average of $12.47 and a 200-day simple moving average of $11.21.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%.The company had revenue of $94.29 million for the quarter, compared to analysts’ expectations of $92.90 million. As a group, equities analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of hedge funds have recently modified their holdings of DDI. 683 Capital Management LLC grew its stake in shares of DoubleDown Interactive by 66.7% in the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock worth $4,315,000 after purchasing an additional 200,000 shares during the last quarter. Potomac Capital Management Inc. bought a new position in DoubleDown Interactive during the 4th quarter worth $683,000. Whetstone Capital Advisors LLC acquired a new position in DoubleDown Interactive during the 4th quarter worth about $173,000. Renaissance Technologies LLC lifted its holdings in DoubleDown Interactive by 35.7% during the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after buying an additional 19,256 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of DoubleDown Interactive in the 2nd quarter valued at about $155,000.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.