Insider Selling: Direct Digital Holdings, Inc. (NASDAQ:DRCT) CEO Sells 19,778 Shares of Stock

Direct Digital Holdings, Inc. (NASDAQ:DRCT) CEO Mark D. Walker sold 19,778 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $0.78, for a total transaction of $15,426.84. Following the transaction, the chief executive officer now directly owns 43,152 shares in the company, valued at $33,658.56. The trade was 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 accessible through this link.

Direct Digital Stock Performance

DRCT opened at $0.73 on Friday. The company has a market cap of $10.70 million, a PE ratio of -0.62 and a beta of 6.61. The stock has a 50-day moving average of $1.04 and a 200-day moving average 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 announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate 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 company had revenue of $9.08 million for the quarter, compared to the consensus estimate of $13.82 million. On average, research analysts predict that Direct Digital Holdings, Inc. will post -1.91 earnings per share for the current year.

Institutional Inflows and Outflows

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) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned about 0.30% of Direct Digital as of its most recent filing with the Securities and Exchange Commission. 4.02% of the stock is 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.