DoubleDown Interactive (NASDAQ:DDI) Hits New 1-Year High - Here's Why

Key Points

• DoubleDown Interactive shares reached a new 52-week high of $13.29 and last traded at $13.26, up 1.3% from the prior close.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $18.33; B. Riley recently raised its target to $24 and maintained a Buy rating.
• The company beat quarterly expectations, reporting $0.66 EPS versus the $0.61 estimate and revenue of $94.29 million versus $92.90 million, while maintaining strong liquidity and a 32.91% net margin.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) shares hit a new 52-week high during trading on Wednesday. The company traded as high as $13.29 and last traded at $13.26, with a volume of 63750 shares changing hands. The stock had previously closed at $13.06.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. B. Riley Financial increased their target price on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, DoubleDown Interactive presently has a consensus rating of "Moderate Buy" and an average price target of $18.33.

DoubleDown Interactive Trading Up 1.3%

The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The business's 50-day moving average is $12.47 and its 200 day moving average is $11.21. The firm has a market capitalization of $655.69 million, a P/E ratio of 5.25 and a beta of 1.03.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $94.29 million during the quarter, compared to the consensus estimate of $92.90 million. As a group, analysts anticipate that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of hedge funds have recently added to or reduced their stakes in DDI. Potomac Capital Management Inc. acquired a new stake in shares of DoubleDown Interactive during the 4th quarter worth $683,000. 683 Capital Management LLC raised its stake in DoubleDown Interactive by 66.7% in the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company's stock valued at $4,315,000 after purchasing an additional 200,000 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new position in DoubleDown Interactive in the fourth quarter valued at about $173,000. Renaissance Technologies LLC lifted its position in DoubleDown Interactive by 35.7% during the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company's stock worth $619,000 after purchasing an additional 19,256 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in DoubleDown Interactive during the second quarter worth about $155,000.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. NASDAQ: DDI is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.

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