Short Interest in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Drops By 76.0%

Key Points

• Short interest in DoubleDown Interactive has decreased by 76.0%, with only 15,400 shares shorted as of September 15th, significantly down from 64,200 shares at the end of August.
• The company reported an EPS of $0.44 for the last quarter, which missed analyst expectations of $0.51, but had revenue exceed expectations at $84.81 million.
• Several institutional investors have significantly increased their stakes in DoubleDown Interactive, with Osaic Holdings Inc. boosting its stake by 338.6% during the second quarter.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 15,400 shares, a decrease of 76.0% from the August 31st total of 64,200 shares. Based on an average daily trading volume, of 55,500 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 55,500 shares, the short-interest ratio is presently 0.3 days.

DoubleDown Interactive Trading Up 0.3%

Shares of NASDAQ:DDI opened at $9.34 on Wednesday. DoubleDown Interactive has a twelve month low of $8.09 and a twelve month high of $18.21. The company has a market cap of $462.80 million, a PE ratio of 4.34 and a beta of 0.87. The company's 50 day moving average is $9.45 and its 200 day moving average is $9.70.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last released 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 business had revenue of $84.81 million during the quarter, compared to analysts' expectations of $83.13 million. Equities research analysts predict that DoubleDown Interactive will post 2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its stake in shares of DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company's stock worth $30,000 after buying an additional 2,397 shares during the last quarter. Trexquant Investment LP lifted its holdings in DoubleDown Interactive by 70.6% in the first 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. GAMMA Investing LLC boosted its position in DoubleDown Interactive by 1,376.7% in the 1st quarter. GAMMA Investing LLC now owns 1,713 shares of the company's stock worth $173,000 after purchasing an additional 1,597 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of DoubleDown Interactive during the 1st quarter worth approximately $202,000. Finally, Goldman Sachs Group Inc. increased its holdings 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 in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DDI shares. Roth Capital initiated coverage on DoubleDown Interactive in a research note on Monday, June 23rd. They set a "buy" rating and a $16.00 price target on the stock. Zacks Research upgraded shares of DoubleDown Interactive from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Finally, Wedbush upgraded shares of DoubleDown Interactive to a "strong-buy" rating in a research note on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, DoubleDown Interactive currently has an average rating of "Buy" and a consensus target price of $19.25.

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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