DoubleDown Interactive (NASDAQ:DDI) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of DoubleDown Interactive (NASDAQ:DDI) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on DDI. Wedbush upgraded DoubleDown Interactive to a “strong-buy” rating in a research report on Tuesday, July 1st. Roth Capital initiated coverage on DoubleDown Interactive in a research note on Monday, June 23rd. They issued a “buy” rating and a $16.00 target price for the company. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $19.25.

DoubleDown Interactive Stock Up 0.3%

Shares of DDI stock opened at $9.34 on Monday. The company has a market capitalization of $462.80 million, a P/E ratio of 4.34 and a beta of 0.87. DoubleDown Interactive has a 12-month low of $8.09 and a 12-month high of $18.21. The firm has a 50-day moving average price of $9.45 and a 200 day moving average price of $9.70.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $83.13 million. As a group, research analysts expect that DoubleDown Interactive will post 2.28 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Several large investors have recently made changes to their positions in DDI. Osaic Holdings Inc. boosted its holdings in DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after acquiring an additional 2,397 shares during the last quarter. Trexquant Investment LP lifted its position in 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 period. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 1,597 shares during 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. raised its stake in shares of DoubleDown Interactive by 127.4% during the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock worth $285,000 after buying an additional 16,128 shares during 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.