DoubleDown Interactive (NASDAQ:DDI) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of DoubleDown Interactive (NASDAQ:DDI) from a buy rating to a hold rating in a report published on Saturday.

DDI has been the topic of several other research reports. Weiss Ratings upgraded DoubleDown Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.75.

DoubleDown Interactive Price Performance

Shares of DoubleDown Interactive stock opened at $10.99 on Friday. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $11.25. The business has a 50-day moving average of $8.93 and a 200-day moving average of $8.89. The company has a market capitalization of $544.55 million, a PE ratio of 5.31 and a beta of 1.01.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%.The business had revenue of $95.79 million during the quarter, compared to analyst estimates of $99.61 million. On average, equities analysts expect that DoubleDown Interactive will post 2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

Hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in DoubleDown Interactive in the fourth quarter worth about $180,000. XTX Topco Ltd bought a new stake in shares of DoubleDown Interactive during the fourth quarter valued at approximately $118,000. Corient Private Wealth LLC bought a new stake in shares of DoubleDown Interactive during the fourth quarter valued at approximately $94,000. Osaic Holdings Inc. increased its stake in shares of DoubleDown Interactive by 338.6% during the second 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. Finally, Aristides Capital LLC increased its stake in shares of DoubleDown Interactive by 4.5% during the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after acquiring an additional 1,480 shares during the period.

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.