DoubleDown Interactive (NASDAQ:DDI) Stock Price Up 4.8%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s stock price shot up 4.8% during trading on Monday . The company traded as high as $13.85 and last traded at $13.85. 13,851 shares traded hands during trading, a decline of 53% from the average session volume of 29,632 shares. The stock had previously closed at $13.21.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DDI. B. Riley lifted their price target on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Macquarie started coverage on shares of DoubleDown Interactive in a report on Monday, May 20th. They issued an “outperform” rating on the stock. Northland Securities boosted their target price on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Finally, Wedbush boosted their target price on shares of DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a report on Tuesday, August 13th.

DoubleDown Interactive Price Performance

The firm has a market cap of $703.16 million, a price-to-earnings ratio of 6.51 and a beta of 0.80. The firm’s fifty day moving average is $12.17 and its 200-day moving average is $11.84.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.19. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. The firm had revenue of $88.24 million for the quarter, compared to analyst estimates of $83.87 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, equities research analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.07 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors have recently made changes to their positions in DDI. B. Riley Financial Inc. increased its position in shares of DoubleDown Interactive by 2.4% during the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after acquiring an additional 96,740 shares in the last quarter. Arbor Capital Management Inc. ADV bought a new stake in shares of DoubleDown Interactive during the fourth quarter worth about $514,000. Renaissance Technologies LLC increased its position in shares of DoubleDown Interactive by 81.6% during the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after acquiring an additional 18,200 shares in the last quarter. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of DoubleDown Interactive during the fourth quarter worth about $82,000.

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.