DoubleDown Interactive (NASDAQ:DDI) Cut to “Neutral” at Roth Capital

Roth Capital cut shares of DoubleDown Interactive (NASDAQ:DDI) from a buy rating to a neutral rating in a research report report published on Thursday morning, Marketbeat reports. The firm currently has $16.25 target price on the stock, up from their prior target price of $16.00.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of DoubleDown Interactive in a report on Wednesday, November 4th. Canadian Imperial Bank of Commerce set a $16.25 price target on shares of DoubleDown Interactive in a research report on Thursday. Finally, B. Riley Financial downgraded shares of DoubleDown Interactive from a “buy” rating to a “hold” rating in a research note on Monday, November 9th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DoubleDown Interactive has a consensus rating of “Hold” and an average target price of $18.19.

DoubleDown Interactive Trading Up 0.4%

NASDAQ DDI traded up $0.07 during trading hours on Thursday, hitting $15.77. 898,472 shares of the company’s stock were exchanged, compared to its average volume of 242,026. The business’s 50 day moving average is $13.53 and its 200-day moving average is $11.29. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $15.80. The firm has a market capitalization of $781.40 million, a P/E ratio of 7.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Wednesday, November 11th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.23). DoubleDown Interactive had a return on equity of 11.29% and a net margin of 29.25%. The business had revenue of $94.27 million during the quarter, compared to analyst estimates of $92.64 million. As a group, analysts anticipate that DoubleDown Interactive will post 2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

Several large investors have recently made changes to their positions in the business. Boston Partners lifted its position in shares of DoubleDown Interactive by 58.6% during the third quarter. Boston Partners now owns 261,806 shares of the company’s stock worth $3,479,000 after purchasing an additional 96,755 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in DoubleDown Interactive during the 3rd quarter valued at $282,000. Renaissance Technologies LLC grew its holdings in DoubleDown Interactive by 35.7% during the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock valued at $619,000 after purchasing an additional 19,256 shares in the last quarter. GAMMA Investing LLC acquired a new stake in DoubleDown Interactive during the 2nd quarter valued at $155,000. Finally, R Squared Ltd purchased a new stake in DoubleDown Interactive during the 3rd quarter worth $145,000.

About DoubleDown Interactive

DoubleDown Interactive is a digital gaming company focused on developing and publishing social casino games for mobile devices and online platforms. Its flagship title, DoubleDown Casino, offers virtual slot machines and other casino-style games for entertainment, using virtual currency rather than real-money wagering. The company’s portfolio also includes other free-to-play casino games, which combine casino-style play with features such as in-game rewards and social interaction. Its games are distributed through app stores and web platforms and reach players in North America and other international markets.