Direct Digital Holdings, Inc. (NASDAQ:DRCT) CEO Sells $15,426.84 in Stock

Direct Digital Holdings, Inc. (NASDAQ:DRCT) CEO Mark D. Walker sold 19,778 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $0.78, for a total transaction of $15,426.84. Following the completion of the transaction, the chief executive officer now directly owns 43,152 shares of the company’s stock, valued at $33,658.56. The trade was a 31.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Direct Digital Trading Up 71.6 %

Shares of NASDAQ DRCT traded up $0.56 during midday trading on Thursday, reaching $1.33. 23,455,040 shares of the stock were exchanged, compared to its average volume of 906,884. The stock has a 50 day moving average price of $1.05 and a 200-day moving average price of $1.68. The company has a market capitalization of $19.50 million, a P/E ratio of -1.14 and a beta of 6.61. Direct Digital Holdings, Inc. has a 52-week low of $0.51 and a 52-week high of $16.37.

Direct Digital (NASDAQ:DRCT) last announced its earnings results on Thursday, March 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.24. Direct Digital had a negative net margin of 5.61% and a negative return on equity of 25.66%. On average, analysts forecast that Direct Digital Holdings, Inc. will post -1.91 earnings per share for the current year.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently bought a new stake in Direct Digital stock. Citadel Advisors LLC purchased a new position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned about 0.30% of Direct Digital at the end of the most recent quarter. 4.02% of the stock is currently owned by hedge funds and other institutional investors.

About Direct Digital

Direct Digital Holdings, Inc operates as an end-to-end full-service programmatic advertising platform. The company's platform primarily focuses on providing advertising technology, data-driven campaign optimization, and other solutions to underserved and less efficient markets on both the buy- and sell-side of the digital advertising ecosystem.