DoubleDown Interactive (NASDAQ:DDI) Posts Earnings Results, Beats Expectations By $0.06 EPS

DoubleDown Interactive (NASDAQ:DDI) announced its earnings results on Monday. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06, Zacks reports. DoubleDown Interactive had a return on equity of 12.44% and a net margin of 31.91%.

DoubleDown Interactive Trading Up 2.6%

DDI traded up $0.23 during trading on Monday, hitting $8.94. 55,477 shares of the company’s stock were exchanged, compared to its average volume of 47,148. DoubleDown Interactive has a 1 year low of $8.09 and a 1 year high of $18.21. The stock has a 50 day moving average price of $9.16 and a 200 day moving average price of $9.52. The firm has a market cap of $442.98 million, a P/E ratio of 4.16 and a beta of 0.85.

Institutional Trading of DoubleDown Interactive

Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its position in DoubleDown Interactive by 130.2% in the second quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock valued at $11,782,000 after purchasing an additional 696,366 shares during the period. Hudson Bay Capital Management LP purchased a new stake in shares of DoubleDown Interactive in the second quarter worth about $5,759,000. Acadian Asset Management LLC boosted its position in shares of DoubleDown Interactive by 124.7% in the first quarter. Acadian Asset Management LLC now owns 60,282 shares of the company’s stock worth $591,000 after buying an additional 33,459 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of DoubleDown Interactive by 127.4% in the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after buying an additional 16,128 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of DoubleDown Interactive by 338.6% during 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 during the period.

Analyst Upgrades and Downgrades

DDI has been the subject of several recent analyst reports. Zacks Research lowered shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of DoubleDown Interactive in a research note on Wednesday, October 8th. Finally, Loop Capital set a $16.00 price target on shares of DoubleDown Interactive in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.60.

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.