DoubleDown Interactive (NASDAQ:DDI) Cut to “Sell” at Zacks Investment Research

DoubleDown Interactive (NASDAQ:DDIGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “DoubleDown Interactive Co. Ltd. is a developer and publisher of digital social casino games. DoubleDown Interactive Co. Ltd. is based in SEATTLE. “

Shares of NASDAQ:DDI traded up $0.08 during midday trading on Thursday, reaching $10.78. The company’s stock had a trading volume of 4,099 shares, compared to its average volume of 12,486. The firm has a 50 day moving average of $11.32 and a 200-day moving average of $13.49. The firm has a market capitalization of $534.18 million and a P/E ratio of 6.57. The company has a quick ratio of 14.15, a current ratio of 14.15 and a debt-to-equity ratio of 0.05. DoubleDown Interactive has a 12-month low of $8.75 and a 12-month high of $18.50.

Several large investors have recently added to or reduced their stakes in the company. B. Riley Financial Inc. grew its position in DoubleDown Interactive by 1.9% during the 1st quarter. B. Riley Financial Inc. now owns 3,854,440 shares of the company’s stock valued at $45,713,000 after purchasing an additional 70,404 shares during the last quarter. Marshall Wace LLP purchased a new stake in DoubleDown Interactive during the 4th quarter valued at about $196,000. B. Riley Asset Management LLC purchased a new stake in DoubleDown Interactive during the 4th quarter valued at about $3,642,000. Citigroup Inc. purchased a new stake in DoubleDown Interactive during the 4th quarter valued at about $251,000. Finally, Altium Capital Management LP purchased a new stake in DoubleDown Interactive during the 3rd quarter valued at about $2,818,000. 10.18% of the stock is currently owned by hedge funds and other institutional investors.

About DoubleDown Interactive (Get Rating)

DoubleDown Interactive Co, Ltd. engages in the development and publishing of digital games on mobile and web-based platforms for casual players in South Korea. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and Undead World: Hero Survival games. Its games are primarily distributed, marketed, and promoted through third party platform providers.

Further Reading

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