DoubleDown Interactive (NASDAQ:DDI) Stock Gets Downgrade from B. Riley Financial

DoubleDown Interactive (NASDAQ:DDI) was downgraded by B. Riley Financial from a “buy” rating to a “neutral” rating in a research report issued on Monday, FinViz reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a research note on Wednesday, November 4th. One equities research 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, DoubleDown Interactive has a consensus rating of “Hold” and a consensus price target of $19.50.

DoubleDown Interactive Stock Performance

Shares of NASDAQ DDI opened at $15.70 on Monday. The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $777.93 million, a price-to-earnings ratio of 6.23 and a beta of 1.11. The stock’s fifty day simple moving average is $13.36 and its 200 day simple moving average is $11.19. DoubleDown Interactive has a 52-week low of $8.10 and a 52-week high of $15.78.

DoubleDown Interactive (NASDAQ:DDI) last announced its earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. The company had revenue of $94.29 million for the quarter, compared to analyst estimates of $92.90 million. As a group, sell-side analysts forecast that DoubleDown Interactive will post 2.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

Hedge funds have recently made changes to their positions in the company. Boston Partners boosted its stake in DoubleDown Interactive by 58.6% in the 3rd quarter. Boston Partners now owns 261,806 shares of the company’s stock worth $3,479,000 after purchasing an additional 96,755 shares during the period. Renaissance Technologies LLC raised its stake in DoubleDown Interactive by 35.7% during the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock valued at $619,000 after purchasing an additional 19,256 shares during the period. Aristides Capital LLC raised its stake in DoubleDown Interactive by 15.5% during the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock valued at $334,000 after purchasing an additional 5,297 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in shares of DoubleDown Interactive in the third quarter valued at $282,000. Finally, GAMMA Investing LLC lifted its holdings in shares of DoubleDown Interactive by 11.3% in the third quarter. GAMMA Investing LLC now owns 15,064 shares of the company’s stock valued at $200,000 after purchasing an additional 1,532 shares in the last quarter.

Trending Headlines about DoubleDown Interactive

Here are the key news stories impacting DoubleDown Interactive this week:

• Positive Sentiment: DoubleU Games has commenced an all-cash offer to buy the DoubleDown ADSs it does not already own for $16.25 per ADS. DoubleDown’s independent special committee and board unanimously found the transaction fair and recommended that unaffiliated shareholders tender their ADSs. The offer price is above the $15.70 reference price provided, supporting the stock while the offer remains outstanding. Tender offer announcement
• Neutral Sentiment: DoubleDown is scheduled to release quarterly earnings on Wednesday, giving investors another near-term catalyst; no results were included in the report. Earnings schedule
• Negative Sentiment: B. Riley Financial downgraded DDI from “buy” to “neutral,” potentially tempering investor enthusiasm beyond the acquisition offer. B. Riley recommendations
• Negative Sentiment: An investor-rights law firm said it is investigating whether shareholders are receiving a fair price in the proposed sale. The inquiry is not a finding of wrongdoing, but adds deal-related uncertainty. Shareholder investigation announcement

About DoubleDown Interactive

DoubleDown Interactive is a digital gaming company focused on developing and publishing social casino games for mobile devices and online platforms. Its flagship title, DoubleDown Casino, offers virtual slot machines and other casino-style games for entertainment, using virtual currency rather than real-money wagering. The company’s portfolio also includes other free-to-play casino games, which combine casino-style play with features such as in-game rewards and social interaction. Its games are distributed through app stores and web platforms and reach players in North America and other international markets.