DoubleDown Interactive (NASDAQ:DDI) Sets New 1-Year High – Time to Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) shares reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $13.80 and last traded at $13.75, with a volume of 52,012 shares changing hands. The stock had previously closed at $13.65.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DDI. B. Riley Financial lifted their target price on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

DoubleDown Interactive Stock Performance

The firm has a market cap of $676.36 million, a PE ratio of 5.45 and a beta of 1.05. The firm has a 50-day moving average price of $12.85 and a two-hundred day moving average price of $11.55. The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. The firm had revenue of $94.29 million for the quarter, compared to analyst estimates of $92.90 million. Research analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DDI. 683 Capital Management LLC raised its position in shares of DoubleDown Interactive by 66.7% in the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after buying an additional 200,000 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of DoubleDown Interactive by 11.3% in the third quarter. GAMMA Investing LLC now owns 15,064 shares of the company’s stock worth $200,000 after buying an additional 1,532 shares in the last quarter. Renaissance Technologies LLC boosted its position in DoubleDown Interactive by 35.7% during the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after acquiring an additional 19,256 shares during the last quarter. Finally, Aristides Capital LLC boosted its position in DoubleDown Interactive by 15.5% during the first quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock worth $334,000 after acquiring an additional 5,297 shares during the last quarter.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. is a South Korea-based developer and publisher of social casino games for mobile devices and the web. Its games are designed to simulate casino experiences, including slot machines and other casino-style entertainment, while using virtual currency rather than offering real-money gambling.

The company’s principal title is DoubleDown Casino, a social casino game available through mobile applications and online platforms. DoubleDown Interactive also offers additional casino-themed games and content, including slot-focused experiences developed for players seeking casual, entertainment-oriented gameplay.

DoubleDown Interactive was established in 2010 and became part of South Korean gaming company DoubleU Games in 2017.