Hudson Bay Capital Management LP Buys Shares of 601,821 DoubleDown Interactive Co., Ltd. Sponsored ADR $DDI

Hudson Bay Capital Management LP purchased a new position in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 601,821 shares of the company’s stock, valued at approximately $5,759,000.

A number of other large investors also recently bought and sold shares of the business. Trexquant Investment LP boosted 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 acquiring an additional 7,142 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in DoubleDown Interactive in the first quarter valued at about $202,000. Goldman Sachs Group Inc. raised its holdings in DoubleDown Interactive by 127.4% in the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock worth $285,000 after purchasing an additional 16,128 shares in the last quarter. Black Maple Capital Management LP purchased a new stake in shares of DoubleDown Interactive during the second quarter valued at about $478,000. Finally, Boston Partners boosted its holdings in shares of DoubleDown Interactive by 44.8% in the 1st quarter. Boston Partners now owns 49,149 shares of the company’s stock valued at $487,000 after buying an additional 15,196 shares in the last quarter.

DoubleDown Interactive Stock Performance

NASDAQ:DDI opened at $8.81 on Tuesday. The firm’s fifty day moving average is $9.03 and its two-hundred day moving average is $9.37. The firm has a market cap of $436.54 million, a price-to-earnings ratio of 3.83 and a beta of 0.84. DoubleDown Interactive Co., Ltd. Sponsored ADR has a one year low of $8.09 and a one year high of $11.67.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data on Monday, November 10th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. DoubleDown Interactive had a return on equity of 12.92% and a net margin of 32.94%.The business had revenue of $95.85 million during the quarter, compared to analyst estimates of $94.28 million. As a group, equities research analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DDI has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $21.00 target price on shares of DoubleDown Interactive in a research note on Tuesday, November 11th. Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Zacks Research lowered DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Loop Capital set a $16.00 price target on DoubleDown Interactive in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of DoubleDown Interactive in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.