Trexquant Investment LP Increases Stock Position in DoubleDown Interactive Co., Ltd. Sponsored ADR $DDI

Trexquant Investment LP raised its holdings in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) by 70.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,262 shares of the company’s stock after purchasing an additional 7,142 shares during the period. Trexquant Investment LP’s holdings in DoubleDown Interactive were worth $171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of DoubleDown Interactive during the fourth quarter valued at approximately $153,000. Ameriprise Financial Inc. lifted its stake in shares of DoubleDown Interactive by 10.3% during the fourth quarter. Ameriprise Financial Inc. now owns 517,341 shares of the company’s stock valued at $5,401,000 after buying an additional 48,244 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of DoubleDown Interactive during the fourth quarter valued at approximately $111,000. Citadel Advisors LLC lifted its stake in shares of DoubleDown Interactive by 23.9% during the fourth quarter. Citadel Advisors LLC now owns 38,010 shares of the company’s stock valued at $397,000 after buying an additional 7,343 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of DoubleDown Interactive by 25.2% during the fourth quarter. Millennium Management LLC now owns 77,624 shares of the company’s stock valued at $810,000 after buying an additional 15,641 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DDI. B. Riley reduced their price objective on shares of DoubleDown Interactive from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Zacks Research raised shares of DoubleDown Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. Roth Capital assumed coverage on shares of DoubleDown Interactive in a research note on Monday, June 23rd. They set a “buy” rating and a $16.00 price target on the stock. Wall Street Zen downgraded shares of DoubleDown Interactive from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Wedbush raised shares of DoubleDown Interactive to a “strong-buy” rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $19.25.

DoubleDown Interactive Price Performance

Shares of DDI stock opened at $9.40 on Thursday. The firm has a market cap of $465.77 million, a P/E ratio of 4.37 and a beta of 0.87. DoubleDown Interactive Co., Ltd. Sponsored ADR has a 1-year low of $8.09 and a 1-year high of $18.21. The firm has a fifty day moving average of $9.61 and a two-hundred day moving average of $9.74.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The company had revenue of $84.81 million for the quarter, compared to analyst estimates of $83.13 million. DoubleDown Interactive had a return on equity of 12.44% and a net margin of 31.91%. On average, sell-side analysts expect that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.28 EPS for the current year.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.