DoubleDown Interactive (NASDAQ:DDI) Stock Gets Downgrade from Roth Capital

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) was downgraded by stock analysts at Roth Capital from a "buy" rating to a "neutral" rating in a research note issued on Thursday, FinViz reports. They presently have a $16.25 target price on the stock. Roth Capital's price objective would indicate a potential upside of 3.37% from the company's previous close.

Other analysts also recently issued research reports about the stock. Canadian Imperial Bank of Commerce set a $16.25 target price on shares of DoubleDown Interactive in a report on Thursday. B. Riley Financial cut shares of DoubleDown Interactive from a "buy" rating to a "neutral" rating in a report on Monday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of DoubleDown Interactive in a report on Wednesday, November 4th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $17.88.

DoubleDown Interactive Price Performance

DoubleDown Interactive stock opened at $15.72 on Thursday. DoubleDown Interactive has a 12 month low of $8.10 and a 12 month high of $15.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The business has a 50 day simple moving average of $13.42 and a 200-day simple moving average of $11.22. The stock has a market capitalization of $778.97 million, a PE ratio of 6.24 and a beta of 1.11.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last posted its quarterly earnings data on Wednesday, November 11th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.23). DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. The firm had revenue of $94.27 million during the quarter, compared to analysts' expectations of $92.64 million. Equities analysts predict that DoubleDown Interactive will post 2.58 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Large investors have recently made changes to their positions in the stock. Boston Partners lifted its stake in shares of DoubleDown Interactive by 58.6% in the third quarter. Boston Partners now owns 261,806 shares of the company's stock valued at $3,479,000 after purchasing an additional 96,755 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in DoubleDown Interactive during the third quarter worth about $282,000. Renaissance Technologies LLC grew 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 buying an additional 19,256 shares during the period. GAMMA Investing LLC acquired a new position in DoubleDown Interactive during the second quarter worth about $155,000. Finally, R Squared Ltd acquired a new position in DoubleDown Interactive during the third quarter worth about $145,000.

DoubleDown Interactive News Roundup

Here's some of the latest news about DDI:

• Positive Sentiment: Majority owner DoubleU Games commenced an all-cash tender offer for DDI’s remaining ADSs at $16.25 per ADS. DoubleDown’s independent special committee and board recommended that unaffiliated shareholders accept. The offer price is above the $15.72 price cited in the background, potentially providing upside if the transaction closes; completion remains subject to the offer’s terms. Tender offer announcement
• Neutral Sentiment: Brodski & Smith announced an investor investigation involving DoubleDown. The notice provides no specific findings or allegations, so its potential impact is uncertain. Investor investigation notice
• Negative Sentiment: Third-quarter EPS was $0.37, below the $0.60 consensus estimate, despite revenue of $94.27 million topping expectations of $92.64 million. The earnings miss may weigh on sentiment. Quarterly earnings report

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.

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