DoubleDown Interactive (NASDAQ:DDI) Lowered to Hold Rating by Freedom Capital

Key Points

• Freedom Capital downgraded DoubleDown Interactive from "strong-buy" to "hold"; analysts are split (3 Buy, 2 Hold, 1 Sell) and the MarketBeat consensus rating is "Hold" with an average target of $18.75.
• The company missed quarterly estimates, reporting $0.49 EPS vs. $0.62 expected and $95.79M revenue vs. $99.61M, while shares trade around $10.90 with a market cap of about $540M and a PE of 5.27.
• Institutional activity remains notable—Ameriprise increased its stake by 130% to 1.23M shares and other funds (e.g., Hudson Bay, 683 Capital) recently added or raised positions.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) was downgraded by investment analysts at Freedom Capital from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Weiss Ratings lowered shares of DoubleDown Interactive from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, February 23rd. Wall Street Zen raised shares of DoubleDown Interactive from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, DoubleDown Interactive currently has a consensus rating of "Hold" and an average target price of $18.75.

DoubleDown Interactive Stock Down 0.8%

Shares of NASDAQ:DDI opened at $10.90 on Tuesday. The company's 50 day moving average price is $8.89 and its two-hundred day moving average price is $8.88. DoubleDown Interactive has a 12-month low of $8.09 and a 12-month high of $11.25. The firm has a market cap of $540.10 million, a PE ratio of 5.27 and a beta of 0.84.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.13). The firm had revenue of $95.79 million for the quarter, compared to analyst estimates of $99.61 million. DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%. On average, research analysts expect that DoubleDown Interactive will post 2.27 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDI. Ameriprise Financial Inc. lifted its stake in DoubleDown Interactive by 130.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company's stock valued at $11,782,000 after purchasing an additional 696,366 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of DoubleDown Interactive during the second quarter valued at $5,759,000. 683 Capital Management LLC raised its stake in shares of DoubleDown Interactive by 66.7% during the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company's stock valued at $4,315,000 after acquiring an additional 200,000 shares during the last quarter. Potomac Capital Management Inc. bought a new position in shares of DoubleDown Interactive during the fourth quarter valued at $683,000. Finally, Stonehill Capital Management LLC raised its stake in shares of DoubleDown Interactive by 49.1% during the third quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company's stock valued at $1,780,000 after acquiring an additional 62,735 shares during the last quarter.

DoubleDown Interactive Company Profile

DoubleDown Interactive NASDAQ: DDI is a digital entertainment company that specializes in the development and publishing of social casino games. The company's portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company's flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.