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

Key Points

• B. Riley Financial downgraded DoubleDown Interactive from “buy” to “neutral.” The analyst consensus is “Hold,” with an average price target of $19.50.
• DoubleDown reported quarterly EPS of $0.66, beating the $0.61 consensus estimate, and revenue of $94.29 million versus expectations of $92.90 million.
• Shares were reported up 15.6%, opening at $15.70, near the stock’s 52-week high of $15.78.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) was downgraded by stock analysts at B. Riley Financial from a "buy" rating to a "neutral" rating in a report issued on Monday, FinViz reports.

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

DoubleDown Interactive Trading Up 15.6%

Shares of NASDAQ DDI opened at $15.70 on Monday. The stock's 50 day moving average price is $13.30 and its two-hundred day moving average price is $11.15. DoubleDown Interactive has a 52-week low of $8.10 and a 52-week high of $15.78. The stock has a market capitalization of $777.93 million, a P/E ratio of 5.46 and a beta of 1.11. 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 - Get Free Report) last posted 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 net margin of 32.91% and a return on equity of 12.93%. The company had revenue of $94.29 million for the quarter, compared to the consensus estimate of $92.90 million. On average, analysts anticipate that DoubleDown Interactive will post 2.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. Aristides Capital LLC increased its stake in DoubleDown Interactive by 15.5% during the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company's stock valued at $334,000 after buying an additional 5,297 shares during the period. R Squared Ltd acquired a new stake in shares of DoubleDown Interactive in the 3rd quarter worth approximately $145,000. Renaissance Technologies LLC lifted its stake in shares of DoubleDown Interactive by 35.7% in the 1st 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 period. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of DoubleDown Interactive in the third quarter valued at approximately $282,000.

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.

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