DoubleDown Interactive's (DDI) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed DoubleDown Interactive’s stock rating at "hold (C-)", reflecting cautious sentiment from investment analysts.
• The company’s stock has been subject to varying opinions from other brokerages, with Wedbush upgrading it to a "strong-buy" and Zacks downgrading it to "hold".
• DoubleDown Interactive reported quarterly earnings of $0.44 per share, which missed analyst estimates by $0.07, despite recording revenue exceeding expectations.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages also recently weighed in on DDI. Wedbush raised DoubleDown Interactive to a "strong-buy" rating in a research report on Tuesday, July 1st. Roth Capital assumed coverage on DoubleDown Interactive in a research report on Monday, June 23rd. They set a "buy" rating and a $16.00 target price on the stock. Finally, Zacks Research cut DoubleDown Interactive from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.25.

DoubleDown Interactive Trading Down 2.6%

DDI traded down $0.24 during midday trading on Wednesday, hitting $8.87. 55,463 shares of the company were exchanged, compared to its average volume of 45,895. The company's 50 day simple moving average is $9.39 and its 200 day simple moving average is $9.67. The firm has a market capitalization of $439.54 million, a price-to-earnings ratio of 4.13 and a beta of 0.85. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $18.21.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted 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 buying an additional 2,397 shares in the last quarter. Trexquant Investment LP lifted 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 buying an additional 7,142 shares in the last quarter. GAMMA Investing LLC lifted 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 buying an additional 1,597 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in DoubleDown Interactive in the 1st quarter worth approximately $202,000. Finally, Goldman Sachs Group Inc. lifted its stake in DoubleDown Interactive by 127.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company's stock worth $285,000 after purchasing an additional 16,128 shares in the last quarter.

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.

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