DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Update

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant decline in short interest in June. As of June 30th, there was short interest totaling 15,007 shares, a decline of 40.4% from the June 15th total of 25,187 shares. Based on an average trading volume of 121,675 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

DoubleDown Interactive Trading Up 0.3%

Shares of DDI traded up $0.03 during mid-day trading on Friday, reaching $11.33. The company’s stock had a trading volume of 26,654 shares, compared to its average volume of 102,128. DoubleDown Interactive has a 52 week low of $8.10 and a 52 week high of $12.35. The stock has a market cap of $561.40 million, a PE ratio of 4.93 and a beta of 1.02. The company’s fifty day moving average price is $11.60 and its two-hundred day moving average price is $9.87.

DoubleDown Interactive (NASDAQ:DDI) last released its earnings results on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.58 by $0.13. The company had revenue of $94.12 million for the quarter, compared to analyst estimates of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. Research analysts anticipate that DoubleDown Interactive will post 2.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Potomac Capital Management Inc. bought a new stake in shares of DoubleDown Interactive in the 4th quarter valued at about $683,000. 683 Capital Management LLC boosted its holdings in DoubleDown Interactive by 66.7% during the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after acquiring an additional 200,000 shares during the period. Goldman Sachs Group Inc. grew its position in DoubleDown Interactive by 2.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock worth $694,000 after acquiring an additional 1,789 shares during the last quarter. Acadian Asset Management LLC grew its position in 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 acquiring an additional 33,459 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in DoubleDown Interactive during the 4th quarter worth approximately $180,000.

Analysts Set New Price Targets

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