Direct Digital (NASDAQ:DRCT – Get Free Report) announced its earnings results on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.36), Zacks reports. The company had revenue of $41.01 million for the quarter, compared to the consensus estimate of $66.02 million. Direct Digital had a net margin of 1.26% and a return on equity of 48.38%. During the same period last year, the business posted $0.01 EPS. Direct Digital updated its FY 2024 guidance to EPS.
Direct Digital Stock Down 39.5 %
DRCT stock opened at $16.04 on Thursday. The firm has a market cap of $228.89 million, a PE ratio of 114.57 and a beta of 8.14. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.16 and a current ratio of 1.16. Direct Digital has a one year low of $1.96 and a one year high of $35.88. The firm’s 50 day moving average price is $18.53 and its 200-day moving average price is $11.00.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in DRCT. Geode Capital Management LLC raised its stake in shares of Direct Digital by 31.5% in the fourth quarter. Geode Capital Management LLC now owns 16,555 shares of the company’s stock valued at $40,000 after acquiring an additional 3,966 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Direct Digital by 14.8% in the fourth quarter. Two Sigma Investments LP now owns 33,027 shares of the company’s stock valued at $80,000 after acquiring an additional 4,267 shares in the last quarter. UBS Group AG acquired a new stake in shares of Direct Digital in the first quarter valued at $31,000. Renaissance Technologies LLC acquired a new stake in shares of Direct Digital in the third quarter valued at $30,000. Finally, Vanguard Group Inc. increased its holdings in Direct Digital by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 136,506 shares of the company’s stock valued at $2,031,000 after buying an additional 13,431 shares during the last quarter. 4.02% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
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.
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