DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Given Average Rating of “Moderate Buy” by Brokerages

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $19.25.

Several research firms have issued reports on DDI. Zacks Research lowered DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Wedbush upgraded DoubleDown Interactive to a “strong-buy” rating in a research note on Tuesday, July 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of DoubleDown Interactive in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDI. Ameriprise Financial Inc. grew its stake in DoubleDown Interactive by 130.2% in the second quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock valued at $11,782,000 after purchasing an additional 696,366 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of DoubleDown Interactive during the second quarter worth about $5,759,000. 683 Capital Management LLC purchased a new stake in shares of DoubleDown Interactive during the second quarter worth about $2,632,000. Black Maple Capital Management LP purchased a new stake in shares of DoubleDown Interactive during the second quarter worth about $478,000. Finally, SG Americas Securities LLC purchased a new stake in shares of DoubleDown Interactive during the third quarter worth about $319,000.

DoubleDown Interactive Trading Up 3.7%

Shares of DoubleDown Interactive stock opened at $9.16 on Thursday. The firm has a market cap of $453.88 million, a P/E ratio of 4.26 and a beta of 0.85. DoubleDown Interactive has a 12 month low of $8.09 and a 12 month high of $18.21. The stock’s fifty day moving average price is $9.26 and its 200-day moving average price is $9.59.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $84.81 million for the quarter, compared to analysts’ expectations of $83.13 million. DoubleDown Interactive had a net margin of 31.91% and a return on equity of 12.44%. Analysts forecast that DoubleDown Interactive will post 2.28 earnings per share for the current year.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.