DoubleDown Interactive (NASDAQ:DDI) Stock Bumped Down to Neutral by B. Riley Financial

B. Riley Financial downgraded shares of DoubleDown Interactive (NASDAQ:DDI) from a buy rating to a neutral rating in a research report report published on Monday,FinViz reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Wednesday, November 4th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.50.

DoubleDown Interactive Trading Up 15.6%

NASDAQ:DDI opened at $15.70 on Monday. The stock has a fifty day simple moving average of $13.30 and a 200 day simple moving average of $11.15. The firm has a market capitalization of $777.93 million, a price-to-earnings ratio of 6.23 and a beta of 1.11. DoubleDown Interactive has a 1-year low of $8.10 and a 1-year high of $15.78. 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 posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $92.90 million. Sell-side analysts forecast that DoubleDown Interactive will post 2.58 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors and hedge funds have recently modified their holdings of DDI. Eurizon Capital SGR S.p.A. purchased a new stake in shares of DoubleDown Interactive during the third quarter worth $282,000. R Squared Ltd acquired a new stake in DoubleDown Interactive during the third quarter valued at $145,000. GAMMA Investing LLC boosted its position in DoubleDown Interactive by 11.3% during the third quarter. GAMMA Investing LLC now owns 15,064 shares of the company’s stock valued at $200,000 after purchasing an additional 1,532 shares during the last quarter. Renaissance Technologies LLC grew its stake in DoubleDown Interactive by 35.7% in the first 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. Finally, Aristides Capital LLC grew its stake in DoubleDown Interactive by 15.5% in the first quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock valued at $334,000 after purchasing an additional 5,297 shares in the last quarter.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a South Korean developer and publisher of social casino games. The company creates digital casino-style entertainment products that allow users to play games such as slots and poker using virtual currency rather than real-money wagers.

Its flagship product is DoubleDown Casino, a free-to-play social casino platform available through mobile devices and online channels, including social networking platforms. The company also offers related titles and casino-themed games, including DoubleDown Fortunes and other slot-focused products.