DoubleDown Interactive (NASDAQ:DDI) Cut to Neutral at B. Riley Financial

B. Riley Financial downgraded shares of DoubleDown Interactive (NASDAQ:DDI) from a buy rating to a neutral rating in a report published on Monday,FinViz reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of DoubleDown Interactive in a research note on Wednesday, November 4th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.50.

DoubleDown Interactive Price Performance

DDI opened at $15.72 on Monday. The stock has a fifty day simple moving average of $13.42 and a two-hundred day simple moving average of $11.22. The company has a current ratio of 18.67, a quick ratio of 18.67 and a debt-to-equity ratio of 0.03. The company has a market cap of $778.93 million, a price-to-earnings ratio of 6.23 and a beta of 1.11. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $15.78.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Wednesday, November 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.23). DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. The firm had revenue of $94.27 million for the quarter, compared to analysts’ expectations of $92.64 million. Research analysts predict that DoubleDown Interactive will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of DoubleDown Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners raised its stake in DoubleDown Interactive by 58.6% during the third quarter. Boston Partners now owns 261,806 shares of the company’s stock valued at $3,479,000 after buying an additional 96,755 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after acquiring an additional 19,256 shares in the last quarter. Aristides Capital LLC grew its stake in shares of DoubleDown Interactive by 15.5% in 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 last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of DoubleDown Interactive in the third quarter worth $282,000. Finally, GAMMA Investing LLC grew its stake in shares of DoubleDown Interactive by 11.3% in 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 last quarter.

DoubleDown Interactive News Summary

Investors following DDI have been watching these news items:

• Positive Sentiment: Majority owner DoubleU Games commenced an all-cash tender offer for DDI’s remaining ADSs at $16.25 per ADS. DoubleDown’s independent special committee and board recommended that unaffiliated shareholders accept. The offer price is above the $15.72 price cited in the background, potentially providing upside if the transaction closes; completion remains subject to the offer’s terms. Tender offer announcement
• Neutral Sentiment: Brodski & Smith announced an investor investigation involving DoubleDown. The notice provides no specific findings or allegations, so its potential impact is uncertain. Investor investigation notice
• Negative Sentiment: Third-quarter EPS was $0.37, below the $0.60 consensus estimate, despite revenue of $94.27 million topping expectations of $92.64 million. The earnings miss may weigh on sentiment. Quarterly earnings report

About DoubleDown Interactive

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.