DoubleDown Interactive (NASDAQ:DDI) Downgraded to Hold Rating by Freedom Capital

Freedom Capital lowered shares of DoubleDown Interactive (NASDAQ:DDI) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other brokerages have also weighed in on DDI. Weiss Ratings lowered shares of DoubleDown Interactive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, DoubleDown Interactive currently has an average rating of “Hold” and an average target price of $18.75.

DoubleDown Interactive Trading Down 0.8%

Shares of DDI opened at $10.90 on Tuesday. The firm’s 50-day moving average price is $8.89 and its 200-day moving average price is $8.88. The firm has a market capitalization of $540.10 million, a price-to-earnings ratio of 5.27 and a beta of 0.84. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $11.25.

DoubleDown Interactive (NASDAQ:DDI) last announced its earnings results on Thursday, February 12th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). The company had revenue of $95.79 million for the quarter, compared to the consensus estimate of $99.61 million. DoubleDown Interactive had a net margin of 28.48% and a return on equity of 11.27%. On average, research analysts forecast that DoubleDown Interactive will post 2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised 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 worth $30,000 after buying an additional 2,397 shares during the last quarter. Four Tree Island Advisory LLC purchased a new position in DoubleDown Interactive in the fourth quarter worth about $93,000. Corient Private Wealth LLC purchased a new position in DoubleDown Interactive in the fourth quarter worth about $94,000. XTX Topco Ltd purchased a new position in DoubleDown Interactive in the fourth quarter worth about $118,000. Finally, Whetstone Capital Advisors LLC purchased a new position in DoubleDown Interactive in the fourth quarter worth about $173,000.

DoubleDown Interactive Company Profile

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.