DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Given Consensus Rating of "Buy" by Brokerages

Key Points

• DoubleDown Interactive Co., Ltd. has received a consensus rating of "Buy" from five analysts, with an average 12-month price target of $19.25.
• The company's latest earnings report revealed a miss in EPS estimates, reporting $0.44 per share against a consensus of $0.51, but exceeded revenue expectations with $84.81 million for the quarter.
• Recent institutional investor activity included significant stakes being acquired, with GAMMA Investing LLC increasing its position by 1,376.7% during the first quarter.

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) have been given a consensus recommendation of "Buy" by the five research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $19.25.

A number of equities analysts have issued reports on the stock. B. Riley reduced their price target on shares of DoubleDown Interactive from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Wedbush raised shares of DoubleDown Interactive to a "strong-buy" rating in a research report on Tuesday, July 1st. Wall Street Zen lowered shares of DoubleDown Interactive from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Roth Capital started coverage on shares of DoubleDown Interactive in a research report on Monday, June 23rd. They set a "buy" rating and a $16.00 price target for the company. Finally, Zacks Research raised shares of DoubleDown Interactive from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th.

Institutional Investors Weigh In On DoubleDown Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in DoubleDown Interactive by 1,376.7% in the 1st quarter. GAMMA Investing LLC now owns 1,713 shares of the company's stock valued at $173,000 after acquiring an additional 1,597 shares during the period. Osaic Holdings Inc. grew its stake in DoubleDown Interactive by 338.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company's stock valued at $30,000 after acquiring an additional 2,397 shares during the period. Trexquant Investment LP grew its stake in DoubleDown Interactive by 70.6% in the 1st quarter. Trexquant Investment LP now owns 17,262 shares of the company's stock valued at $171,000 after acquiring an additional 7,142 shares during the period. Heck Capital Advisors LLC acquired a new stake in DoubleDown Interactive in the 4th quarter valued at $76,000. Finally, Citadel Advisors LLC grew its stake in DoubleDown Interactive by 23.9% in the 4th quarter. Citadel Advisors LLC now owns 38,010 shares of the company's stock valued at $397,000 after acquiring an additional 7,343 shares during the period.

DoubleDown Interactive Stock Down 0.9%

Shares of DoubleDown Interactive stock traded down $0.09 during midday trading on Wednesday, hitting $9.55. The company had a trading volume of 31,924 shares, compared to its average volume of 60,451. The stock has a market cap of $473.20 million, a price-to-earnings ratio of 4.44 and a beta of 0.87. The company has a fifty day simple moving average of $9.62 and a 200 day simple moving average of $9.75. DoubleDown Interactive has a 12-month low of $8.09 and a 12-month high of $18.21.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). DoubleDown Interactive had a net margin of 31.91% and a return on equity of 12.44%. The company had revenue of $84.81 million during the quarter, compared to analysts' expectations of $83.13 million. As a group, analysts expect that DoubleDown Interactive will post 2.28 EPS for the current year.

About DoubleDown Interactive

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.