DoubleDown Interactive (NASDAQ:DDI) Sees Unusually-High Trading Volume

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw an uptick in trading volume on Monday . 11,323 shares changed hands during mid-day trading, a decline of 62% from the previous session’s volume of 30,180 shares.The stock last traded at $14.29 and had previously closed at $14.10.

Wall Street Analyst Weigh In

DDI has been the subject of a number of research reports. Macquarie started coverage on shares of DoubleDown Interactive in a research report on Monday, May 20th. They set an “outperform” rating for the company. B. Riley raised their price objective on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Northland Securities lifted their price objective on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, Wedbush increased their target price on DoubleDown Interactive from $14.75 to $16.25 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th.

DoubleDown Interactive Stock Down 3.2 %

The stock has a market capitalization of $706.63 million, a P/E ratio of 6.63 and a beta of 0.80. The company has a 50-day moving average price of $12.44 and a two-hundred day moving average price of $12.10.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Monday, August 12th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.19. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. The business had revenue of $88.24 million for the quarter, compared to analyst estimates of $83.87 million. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, sell-side analysts expect that DoubleDown Interactive Co., Ltd. will post 2.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. B. Riley Financial Inc. increased its position in shares of DoubleDown Interactive by 2.4% in the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after purchasing an additional 96,740 shares during the last quarter. Arbor Capital Management Inc. ADV purchased a new position in DoubleDown Interactive in the 4th quarter worth approximately $514,000. Renaissance Technologies LLC increased its holdings in shares of DoubleDown Interactive by 81.6% in the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after buying an additional 18,200 shares during the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new stake in shares of DoubleDown Interactive during the 4th quarter valued at $82,000.

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.