DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI – Get Free Report) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 25,187 shares, a decline of 54.8% from the May 31st total of 55,746 shares. Based on an average daily volume of 112,081 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.
Institutional Investors Weigh In On DoubleDown Interactive
Several institutional investors have recently added to or reduced their stakes in DDI. BRC Group Holdings Inc. increased its position in shares of DoubleDown Interactive by 0.8% in the fourth quarter. BRC Group Holdings Inc. now owns 3,477,440 shares of the company’s stock valued at $30,010,000 after acquiring an additional 26,937 shares during the period. Ameriprise Financial Inc. grew its stake in shares of DoubleDown Interactive by 10.2% in the third quarter. Ameriprise Financial Inc. now owns 1,357,163 shares of the company’s stock worth $12,676,000 after purchasing an additional 126,031 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in DoubleDown Interactive during the 2nd quarter valued at approximately $5,759,000. 683 Capital Management LLC lifted its holdings in DoubleDown Interactive by 66.7% in the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock worth $4,315,000 after buying an additional 200,000 shares during the period. Finally, Stonehill Capital Management LLC lifted its holdings in DoubleDown Interactive by 49.1% in the 3rd quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock worth $1,780,000 after buying an additional 62,735 shares during the period.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on DDI. Freedom Capital lowered shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Wedbush lowered their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings upgraded DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.50.
DoubleDown Interactive Price Performance
NASDAQ DDI opened at $11.45 on Monday. The company has a 50-day simple moving average of $11.14 and a two-hundred day simple moving average of $9.61. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $12.35. The firm has a market cap of $567.35 million, a price-to-earnings ratio of 4.98 and a beta of 1.02.
DoubleDown Interactive (NASDAQ:DDI – Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%.The company had revenue of $94.12 million during the quarter, compared to analyst estimates of $94.26 million. Equities analysts expect that DoubleDown Interactive will post 2.51 earnings per share for the current fiscal year.
About DoubleDown Interactive
DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.
The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.
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