DoubleDown Interactive (NASDAQ:DDI) Shares Down 4.2%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s stock price was down 4.2% during mid-day trading on Thursday . The company traded as low as $10.64 and last traded at $10.70. Approximately 5,892 shares traded hands during trading, a decline of 81% from the average daily volume of 30,993 shares. The stock had previously closed at $11.17.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DDI shares. Macquarie started coverage on DoubleDown Interactive in a research note on Monday, May 20th. They set an “outperform” rating for the company. Wedbush lifted their price objective on DoubleDown Interactive from $13.50 to $14.75 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, B. Riley began coverage on DoubleDown Interactive in a research note on Thursday, June 6th. They set a “buy” rating and a $24.00 price objective for the company.

DoubleDown Interactive Price Performance

The company has a 50 day moving average price of $11.64 and a two-hundred day moving average price of $10.73. The stock has a market cap of $534.15 million, a PE ratio of 5.01 and a beta of 0.78.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.11. DoubleDown Interactive had a return on equity of 15.00% and a net margin of 33.51%. The firm had revenue of $88.14 million during the quarter, compared to analysts’ expectations of $82.20 million. As a group, equities analysts predict that DoubleDown Interactive Co., Ltd. will post 2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. B. Riley Financial Inc. grew its holdings 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 acquiring an additional 96,740 shares during the period. Arbor Capital Management Inc. ADV bought a new stake in shares of DoubleDown Interactive in the fourth quarter worth $514,000. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of DoubleDown Interactive in the fourth quarter worth $82,000.

DoubleDown Interactive Company Profile

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.