DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Sees Large Decline in Short Interest

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 37,500 shares, a drop of 5.8% from the March 31st total of 39,800 shares. Based on an average daily trading volume, of 36,000 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On DoubleDown Interactive

Several hedge funds have recently modified their holdings of the stock. Arbor Capital Management Inc. ADV acquired a new stake in shares of DoubleDown Interactive during the fourth quarter valued at approximately $514,000. B. Riley Financial Inc. grew its position in DoubleDown Interactive by 2.4% during the 4th quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after purchasing an additional 96,740 shares in the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new stake in DoubleDown Interactive during the 4th quarter valued at $82,000.

DoubleDown Interactive Stock Performance

DDI opened at $10.51 on Tuesday. The business has a 50 day moving average price of $11.82 and a two-hundred day moving average price of $9.79. DoubleDown Interactive has a 1-year low of $6.95 and a 1-year high of $15.96.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The company had revenue of $83.10 million for the quarter, compared to analysts’ expectations of $76.42 million. DoubleDown Interactive had a return on equity of 14.62% and a net margin of 32.51%. Sell-side analysts anticipate that DoubleDown Interactive will post 2.04 EPS for the current year.

DoubleDown Interactive Company Profile

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.