Wall Street brokerages forecast that DoubleDown Interactive Co., Ltd. (NASDAQ:DDI – Get Rating) will post $86.10 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for DoubleDown Interactive’s earnings. The lowest sales estimate is $85.80 million and the highest is $86.40 million. DoubleDown Interactive posted sales of $93.23 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.6%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that DoubleDown Interactive will report full-year sales of $351.74 million for the current year, with estimates ranging from $349.60 million to $353.88 million. For the next financial year, analysts forecast that the firm will post sales of $381.40 million, with estimates ranging from $375.00 million to $387.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover DoubleDown Interactive.
Separately, Zacks Investment Research cut shares of DoubleDown Interactive from a “hold” rating to a “sell” rating in a report on Thursday, May 19th.
Several institutional investors have recently added to or reduced their stakes in DDI. B. Riley Financial Inc. increased its position in DoubleDown Interactive by 98.9% during the 4th quarter. B. Riley Financial Inc. now owns 3,784,036 shares of the company’s stock valued at $58,652,000 after purchasing an additional 1,881,712 shares during the period. B. Riley Asset Management LLC acquired a new stake in DoubleDown Interactive during the 4th quarter valued at approximately $3,642,000. Tudor Investment Corp Et Al acquired a new stake in DoubleDown Interactive during the 3rd quarter valued at approximately $3,953,000. Verition Fund Management LLC acquired a new stake in DoubleDown Interactive during the 3rd quarter valued at approximately $3,533,000. Finally, Altium Capital Management LP acquired a new stake in DoubleDown Interactive during the 3rd quarter valued at approximately $2,818,000. 10.18% of the stock is owned by institutional investors.
DoubleDown Interactive Company Profile (Get Rating)
DoubleDown Interactive Co, Ltd. engages in the development and publishing of digital games on mobile and web-based platforms for casual players in South Korea. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and Undead World: Hero Survival games. Its games are primarily distributed, marketed, and promoted through third party platform providers.
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