DoubleDown Interactive (NASDAQ:DDI) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

DoubleDown Interactive (NASDAQ:DDI) issued its quarterly earnings data on Wednesday. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13), Zacks reports. DoubleDown Interactive had a net margin of 32.94% and a return on equity of 12.92%.

DoubleDown Interactive Stock Down 2.3%

DoubleDown Interactive stock traded down $0.20 during midday trading on Wednesday, reaching $8.45. The company’s stock had a trading volume of 100,131 shares, compared to its average volume of 69,326. The business has a 50-day simple moving average of $8.80 and a 200-day simple moving average of $9.08. DoubleDown Interactive has a fifty-two week low of $8.09 and a fifty-two week high of $11.25.

Analysts Set New Price Targets

Several analysts have recently issued reports on DDI shares. Weiss Ratings reissued a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, January 21st. Wedbush reiterated an “outperform” rating and set a $21.00 target price on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Loop Capital set a $16.00 price objective on DoubleDown Interactive in a research report on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, DoubleDown Interactive has an average rating of “Moderate Buy” and an average target price of $18.60.

Institutional Investors Weigh In On DoubleDown Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in DoubleDown Interactive by 2.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock valued at $694,000 after purchasing an additional 1,789 shares in the last quarter. Stonehill Capital Management LLC lifted its position 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 buying an additional 62,735 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of DoubleDown Interactive by 100.2% in the 3rd quarter. Millennium Management LLC now owns 116,677 shares of the company’s stock valued at $1,090,000 after buying an additional 58,395 shares in the last quarter. Citadel Advisors LLC boosted its holdings in shares of DoubleDown Interactive by 261.4% in the 3rd quarter. Citadel Advisors LLC now owns 60,163 shares of the company’s stock valued at $562,000 after buying an additional 43,517 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of DoubleDown Interactive by 10.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,357,163 shares of the company’s stock valued at $12,676,000 after buying an additional 126,031 shares during the last quarter.

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.