DoubleDown Interactive (NASDAQ:DDI) Cut to Hold at Zacks Research

Zacks Research lowered shares of DoubleDown Interactive (NASDAQ:DDI) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

DDI has been the topic of a number of other research reports. Wedbush raised shares of DoubleDown Interactive to a “strong-buy” rating in a research note on Tuesday, July 1st. Roth Capital initiated 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $19.25.

DoubleDown Interactive Stock Up 0.1%

NASDAQ:DDI opened at $9.35 on Monday. The company has a market cap of $463.29 million, a P/E ratio of 4.35 and a beta of 0.85. DoubleDown Interactive has a fifty-two week low of $8.09 and a fifty-two week high of $18.21. The firm’s 50 day moving average is $9.45 and its two-hundred day moving average is $9.70.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The company had revenue of $84.81 million for the quarter, compared to analysts’ expectations of $83.13 million. DoubleDown Interactive had a return on equity of 12.44% and a net margin of 31.91%. Research analysts forecast that DoubleDown Interactive will post 2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of hedge funds have recently made changes to their positions in DDI. Osaic Holdings Inc. raised its stake in shares of DoubleDown Interactive by 338.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after acquiring an additional 2,397 shares during the period. Trexquant Investment LP raised its stake in shares of DoubleDown Interactive by 70.6% in the 1st quarter. Trexquant Investment LP now owns 17,262 shares of the company’s stock valued at $171,000 after acquiring an additional 7,142 shares during the period. GAMMA Investing LLC raised its stake in shares of DoubleDown Interactive by 1,376.7% in the 1st quarter. GAMMA Investing LLC now owns 1,713 shares of the company’s stock valued at $173,000 after acquiring an additional 1,597 shares during the period. Charles Schwab Investment Management Inc. purchased a new stake in DoubleDown Interactive during the 1st quarter worth $202,000. Finally, Goldman Sachs Group Inc. increased its stake in DoubleDown Interactive by 127.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock worth $285,000 after buying an additional 16,128 shares during the period.

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.