Analysts Set DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Price Target at $15.67

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) have been assigned an average rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $15.6667.

DDI has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Freedom Capital downgraded shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Wedbush lowered their price objective on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BRC Group Holdings Inc. raised its position in DoubleDown Interactive by 0.8% in the fourth quarter. BRC Group Holdings Inc. now owns 3,477,440 shares of the company’s stock worth $30,010,000 after acquiring an additional 26,937 shares during the period. Ameriprise Financial Inc. raised its position in DoubleDown Interactive by 10.2% in the third quarter. Ameriprise Financial Inc. now owns 1,357,163 shares of the company’s stock worth $12,676,000 after acquiring an additional 126,031 shares during the period. Hudson Bay Capital Management LP bought a new position in DoubleDown Interactive in the second quarter worth approximately $5,759,000. 683 Capital Management LLC raised its position in 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 acquiring an additional 200,000 shares during the period. Finally, Stonehill Capital Management LLC raised its position in DoubleDown Interactive by 49.1% in the third quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock worth $1,780,000 after acquiring an additional 62,735 shares during the period.

DoubleDown Interactive Stock Up 0.9%

Shares of DoubleDown Interactive stock opened at $11.48 on Friday. The company has a market cap of $568.83 million, a price-to-earnings ratio of 4.99 and a beta of 1.02. The company’s 50 day moving average is $10.44 and its 200 day moving average is $9.40. DoubleDown Interactive has a twelve month low of $8.09 and a twelve month high of $12.35.

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

About DoubleDown Interactive

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.