DoubleDown Interactive (NASDAQ:DDI) Rating Lowered to "Hold" at Zacks Research

Key Points

• DoubleDown Interactive has been downgraded from a "strong-buy" rating to a "hold" rating by Zacks Research.
• The stock currently holds an average rating of "Buy" with a target price of $19.25, although it faced a Q2 earnings miss of $0.44 EPS against expectations of $0.51.
• Significant investment activity was noted, with Osaic Holdings Inc. increasing its position in DoubleDown Interactive by 338.6% in the last quarter.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Wedbush upgraded DoubleDown Interactive to a "strong-buy" rating in a research note on Tuesday, July 1st. Roth Capital began coverage on DoubleDown Interactive in a research note on Monday, June 23rd. They set a "buy" rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $19.25.

DoubleDown Interactive Stock Up 0.3%

Shares of DDI opened at $9.34 on Monday. DoubleDown Interactive has a 12-month low of $8.09 and a 12-month high of $18.21. The business's fifty day moving average is $9.45 and its 200 day moving average is $9.70. The stock has a market cap of $462.80 million, a P/E ratio of 4.34 and a beta of 0.87.

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

Institutional Investors Weigh In On DoubleDown Interactive

Large investors have recently made changes to their positions in the business. Osaic Holdings Inc. increased its position in shares of DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company's stock valued at $30,000 after purchasing an additional 2,397 shares during the last quarter. Trexquant Investment LP increased its position in shares of DoubleDown Interactive by 70.6% during the 1st quarter. Trexquant Investment LP now owns 17,262 shares of the company's stock valued at $171,000 after purchasing an additional 7,142 shares during the last quarter. GAMMA Investing LLC increased its position in shares of DoubleDown Interactive by 1,376.7% during the 1st quarter. GAMMA Investing LLC now owns 1,713 shares of the company's stock valued at $173,000 after purchasing an additional 1,597 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of DoubleDown Interactive during the 1st quarter valued at $202,000. Finally, Goldman Sachs Group Inc. increased its position in shares of DoubleDown Interactive by 127.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company's stock valued at $285,000 after purchasing an additional 16,128 shares during the last quarter.

DoubleDown Interactive Company Profile

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.

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