Short Interest in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Decreases By 54.8%

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 25,187 shares, a decrease of 54.8% from the May 31st total of 55,746 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 112,081 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On DoubleDown Interactive

Institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its stake in 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 buying an additional 2,397 shares during the period. Four Tree Island Advisory LLC bought a new position in DoubleDown Interactive in the 4th quarter worth about $93,000. Corient Private Wealth LLC purchased a new stake in shares of DoubleDown Interactive in the 4th quarter valued at about $94,000. XTX Topco Ltd purchased a new stake in shares of DoubleDown Interactive in the 4th quarter valued at about $118,000. Finally, Whetstone Capital Advisors LLC bought a new stake in shares of DoubleDown Interactive during the 4th quarter valued at about $173,000.

DoubleDown Interactive Stock Performance

DDI stock opened at $11.45 on Monday. The firm has a 50 day moving average of $11.14 and a 200-day moving average of $9.61. The firm has a market capitalization of $567.35 million, a P/E ratio of 4.98 and a beta of 1.02. DoubleDown Interactive has a 12 month low of $8.10 and a 12 month high of $12.35.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. The business had revenue of $94.12 million for the quarter, compared to analyst estimates of $94.26 million. Sell-side analysts predict that DoubleDown Interactive will post 2.51 EPS for the current year.

Analysts Set New Price Targets

DDI has been the subject of a number of recent research reports. Wedbush reduced their price objective on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, DoubleDown Interactive presently has a consensus rating of “Hold” and a consensus price target of $15.50.

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.