DoubleDown Interactive (NASDAQ:DDI) Now Covered by B. Riley

B. Riley started coverage on shares of DoubleDown Interactive (NASDAQ:DDIFree Report) in a research note published on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $24.00 price target on the stock.

A number of other research firms have also recently issued reports on DDI. Macquarie assumed coverage on shares of DoubleDown Interactive in a research report on Monday, May 20th. They issued an outperform rating on the stock. Wedbush boosted their price objective on shares of DoubleDown Interactive from $13.50 to $14.75 and gave the stock an outperform rating in a research note on Thursday, May 9th.

Get Our Latest Research Report on DDI

DoubleDown Interactive Stock Performance

NASDAQ DDI opened at $13.28 on Thursday. DoubleDown Interactive has a 52-week low of $6.95 and a 52-week high of $15.96. The company has a market capitalization of $658.02 million, a P/E ratio of 6.18 and a beta of 0.78. The company has a fifty day moving average of $11.32 and a 200-day moving average of $10.46.

DoubleDown Interactive (NASDAQ:DDIGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.11. The company had revenue of $88.14 million for the quarter, compared to analysts’ expectations of $82.20 million. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. As a group, analysts forecast that DoubleDown Interactive will post 2.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DDI. B. Riley Financial Inc. lifted its position in DoubleDown Interactive by 2.4% during the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock valued at $30,441,000 after purchasing an additional 96,740 shares during the period. Arbor Capital Management Inc. ADV purchased a new stake in DoubleDown Interactive during the fourth quarter valued at approximately $514,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in DoubleDown Interactive during the fourth quarter valued at approximately $82,000.

About DoubleDown Interactive

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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.

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