DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Given Average Recommendation of “Hold” by Brokerages

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) has been assigned an average rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.75.

Several brokerages have weighed in on DDI. Loop Capital set a $16.00 price objective on DoubleDown Interactive in a report on Monday, November 3rd. Wedbush reissued an “outperform” rating and issued a $21.00 target price on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Wall Street Zen cut shares of DoubleDown Interactive from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings downgraded shares of DoubleDown Interactive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday.

Hedge Funds Weigh In On DoubleDown Interactive

Hedge funds and other institutional investors have recently modified their holdings of the business. BRC Group Holdings Inc. lifted its position in shares of DoubleDown Interactive by 0.8% during the 4th quarter. BRC Group Holdings Inc. now owns 3,477,440 shares of the company’s stock worth $30,010,000 after buying an additional 26,937 shares during the last quarter. Ameriprise Financial Inc. raised its stake in DoubleDown Interactive by 10.2% during the third quarter. Ameriprise Financial Inc. now owns 1,357,163 shares of the company’s stock worth $12,676,000 after acquiring an additional 126,031 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of DoubleDown Interactive in the second quarter worth about $5,759,000. 683 Capital Management LLC boosted its stake in shares of DoubleDown Interactive by 66.7% in the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Stonehill Capital Management LLC increased its position in DoubleDown Interactive by 49.1% during the 3rd quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock worth $1,780,000 after purchasing an additional 62,735 shares in the last quarter.

DoubleDown Interactive Trading Up 0.7%

Shares of DDI opened at $8.66 on Wednesday. DoubleDown Interactive has a 52 week low of $8.09 and a 52 week high of $11.25. The firm’s 50-day simple moving average is $8.72 and its 200 day simple moving average is $9.03.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%.The firm had revenue of $95.79 million for the quarter, compared to the consensus estimate of $99.61 million. On average, equities analysts forecast that DoubleDown Interactive will post 2.28 earnings per share for the current fiscal year.

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.