DoubleDown Interactive (NASDAQ:DDI) Stock Price Down 3.1%

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) were down 3.1% during trading on Friday . The stock traded as low as $14.22 and last traded at $14.22. Approximately 3,639 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 30,378 shares. The stock had previously closed at $14.67.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wedbush boosted their target price on shares of DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Macquarie began coverage on shares of DoubleDown Interactive in a research report on Monday, May 20th. They set an “outperform” rating for the company. Northland Securities raised their target price on DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Finally, B. Riley boosted their price target on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th.

DoubleDown Interactive Trading Down 2.2 %

The firm has a market capitalization of $711.09 million, a price-to-earnings ratio of 6.71 and a beta of 0.80. The stock’s 50-day moving average is $12.58 and its 200-day moving average is $12.13.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.19. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. The company had revenue of $88.24 million during the quarter, compared to the consensus estimate of $83.87 million. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities research analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. bought a new stake in shares of DoubleDown Interactive in the fourth quarter worth $82,000. Arbor Capital Management Inc. ADV acquired a new position in DoubleDown Interactive during the 4th quarter worth about $514,000. Renaissance Technologies LLC grew its position 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 valued at $529,000 after buying an additional 18,200 shares during the last quarter. Finally, B. Riley Financial Inc. increased its stake 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 valued at $30,441,000 after buying an additional 96,740 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.