Denali Advisors LLC Makes New Investment in Direct Digital Holdings, Inc. (NASDAQ:DRCT)

Denali Advisors LLC bought a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 24,100 shares of the company’s stock, valued at approximately $359,000. Denali Advisors LLC owned 0.17% of Direct Digital at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in shares of Direct Digital during the 3rd quarter worth about $30,000. UBS Group AG acquired a new position in shares of Direct Digital in the 1st quarter valued at approximately $31,000. State Street Corp acquired a new position in shares of Direct Digital in the 3rd quarter valued at approximately $36,000. Geode Capital Management LLC grew its position in shares of Direct Digital by 31.5% in the 4th quarter. Geode Capital Management LLC now owns 16,555 shares of the company’s stock valued at $40,000 after purchasing an additional 3,966 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of Direct Digital by 146.5% in the 3rd quarter. Two Sigma Investments LP now owns 28,760 shares of the company’s stock valued at $64,000 after purchasing an additional 17,095 shares during the period. 4.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Benchmark decreased their price objective on Direct Digital from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday. TheStreet lowered Direct Digital from a “c” rating to a “d+” rating in a research report on Wednesday, February 14th. Roth Mkm decreased their price objective on Direct Digital from $27.50 to $19.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Noble Financial restated a “market perform” rating on shares of Direct Digital in a research note on Wednesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.83.

Direct Digital Stock Down 5.0 %

Shares of Direct Digital stock traded down $0.80 on Friday, reaching $15.24. 299,856 shares of the company were exchanged, compared to its average volume of 286,341. Direct Digital Holdings, Inc. has a one year low of $1.96 and a one year high of $35.88. The company has a market capitalization of $217.47 million, a price-to-earnings ratio of 108.86 and a beta of 8.14. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 3.51. The company has a 50-day moving average of $18.70 and a 200 day moving average of $11.18.

Direct Digital (NASDAQ:DRCT) last announced its quarterly earnings data on Tuesday, March 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). Direct Digital had a return on equity of 48.38% and a net margin of 1.26%. The company had revenue of $41.01 million for the quarter, compared to the consensus estimate of $66.02 million. During the same quarter in the prior year, the company earned $0.01 EPS. On average, equities research analysts forecast that Direct Digital Holdings, Inc. will post 0.16 earnings per share for the current year.

Direct Digital Company Profile

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.