DoubleDown Interactive (NASDAQ:DDI) Announces Quarterly Earnings Results

DoubleDown Interactive (NASDAQ:DDI) issued its quarterly earnings results on Monday. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06, Zacks reports. DoubleDown Interactive had a net margin of 32.94% and a return on equity of 13.13%. The business had revenue of $95.85 million for the quarter, compared to analyst estimates of $94.28 million.

DoubleDown Interactive Stock Performance

Shares of DDI traded up $0.13 during mid-day trading on Wednesday, hitting $9.24. 28,300 shares of the company were exchanged, compared to its average volume of 47,205. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $17.31. The stock has a market cap of $457.59 million, a price-to-earnings ratio of 4.02 and a beta of 0.85. The company has a 50 day moving average of $9.13 and a 200-day moving average of $9.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in DoubleDown Interactive by 130.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock valued at $11,782,000 after buying an additional 696,366 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in DoubleDown Interactive during the second quarter worth $5,759,000. Acadian Asset Management LLC grew its holdings in shares of DoubleDown Interactive by 124.7% during the 1st quarter. Acadian Asset Management LLC now owns 60,282 shares of the company’s stock worth $591,000 after purchasing an additional 33,459 shares during the period. Goldman Sachs Group Inc. raised its holdings in DoubleDown Interactive by 127.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after buying an additional 16,128 shares during the period. Finally, Osaic Holdings Inc. increased its position in shares of DoubleDown Interactive by 338.6% during the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after acquiring an additional 2,397 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on DDI. Weiss Ratings reissued a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, October 8th. Wedbush reiterated an “outperform” rating and issued a $21.00 price target on shares of DoubleDown Interactive in a report on Tuesday. Zacks Research cut shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Loop Capital set a $16.00 price target on shares of DoubleDown Interactive in a report on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.60.

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.