Insider Selling: 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 stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $0.78, for a total value of $15,426.84. Following the sale, the chief executive officer now owns 43,152 shares in the company, valued at approximately $33,658.56. This trade represents a 31.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Direct Digital Stock Performance

Shares of DRCT opened at $0.73 on Friday. The company has a market cap of $10.70 million, a price-to-earnings ratio of -0.62 and a beta of 6.61. The stock has a fifty day moving average price of $1.04 and a two-hundred day moving average price of $1.66. Direct Digital Holdings, Inc. has a 52-week low of $0.51 and a 52-week high of $14.86.

Direct Digital (NASDAQ:DRCT) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.24. Direct Digital had a negative return on equity of 25.66% and a negative net margin of 5.61%. The business had revenue of $9.08 million during the quarter, compared to analysts’ expectations of $13.82 million. As a group, research analysts predict that Direct Digital Holdings, Inc. will post -1.91 EPS for the current fiscal year.

Institutional Trading of Direct Digital

A hedge fund recently bought a new stake in Direct Digital stock. Citadel Advisors LLC acquired a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned approximately 0.30% of Direct Digital as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 4.02% of the company’s stock.

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.