Potomac Capital Management Inc. Makes New $683,000 Investment in DoubleDown Interactive Co., Ltd. Sponsored ADR $DDI

Potomac Capital Management Inc. bought a new position in shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 79,100 shares of the company’s stock, valued at approximately $683,000.

Several other hedge funds have also recently modified their holdings of DDI. Ameriprise Financial Inc. lifted its position in shares of DoubleDown Interactive by 130.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock worth $11,782,000 after buying an additional 696,366 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of DoubleDown Interactive during the 2nd quarter worth approximately $5,759,000. Stonehill Capital Management LLC increased its stake in shares of DoubleDown Interactive by 49.1% during the 3rd quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock worth $1,780,000 after purchasing an additional 62,735 shares during the last quarter. Millennium Management LLC increased its stake in shares of DoubleDown Interactive by 100.2% during the 3rd quarter. Millennium Management LLC now owns 116,677 shares of the company’s stock worth $1,090,000 after purchasing an additional 58,395 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of DoubleDown Interactive by 261.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,163 shares of the company’s stock worth $562,000 after purchasing an additional 43,517 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DDI shares. Wall Street Zen upgraded shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Wedbush decreased their price target on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Freedom Capital lowered shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.67.

DoubleDown Interactive Trading Up 0.9%

DoubleDown Interactive stock opened at $11.48 on Wednesday. DoubleDown Interactive Co., Ltd. Sponsored ADR has a 1-year low of $8.09 and a 1-year high of $12.35. The firm has a market capitalization of $568.83 million, a price-to-earnings ratio of 4.99 and a beta of 1.02. The firm has a 50 day simple moving average of $10.44 and a 200 day simple moving average of $9.40.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data 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 net margin of 30.77% and a return on equity of 12.16%. The business had revenue of $94.12 million during the quarter, compared to analyst estimates of $94.26 million. On average, equities research analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 EPS for the current 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.