Citadel Advisors LLC Makes New $70,000 Investment in Direct Digital Holdings, Inc. (NASDAQ:DRCT)

Citadel Advisors LLC bought a new position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 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 SEC filing.

Direct Digital Stock Down 2.9%

Shares of DRCT opened at $0.54 on Wednesday. Direct Digital Holdings, Inc. has a 12-month low of $0.44 and a 12-month high of $6.59. The business has a 50-day simple moving average of $0.59 and a two-hundred day simple moving average of $1.00. The stock has a market cap of $10.28 million, a PE ratio of -0.46 and a beta of 6.19.

Direct Digital (NASDAQ:DRCT) last issued its earnings results on Tuesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.30). The firm had revenue of $8.16 million during the quarter, compared to analyst estimates of $9.40 million. Direct Digital had a negative return on equity of 25.66% and a negative net margin of 5.61%. On average, equities research analysts expect that Direct Digital Holdings, Inc. will post -1.91 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Benchmark lowered their target price on Direct Digital from $8.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, May 7th.

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.