Raymond James & Associates Purchases Shares of 27,173 Direct Digital Holdings, Inc. (NASDAQ:DRCT)

Raymond James & Associates purchased a new stake in Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,173 shares of the company’s stock, valued at approximately $404,000. Raymond James & Associates owned about 0.19% of Direct Digital as of its most recent SEC filing.

Separately, Warberg Asset Management LLC purchased a new position in Direct Digital in the third quarter valued at approximately $76,000. Institutional investors own 4.02% of the company’s stock.

Direct Digital Price Performance

Shares of NASDAQ DRCT opened at $5.68 on Friday. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a fifty day moving average price of $17.37 and a 200 day moving average price of $12.14. Direct Digital Holdings, Inc. has a 1-year low of $1.96 and a 1-year high of $35.88. The company has a market cap of $81.05 million, a PE ratio of 40.57 and a beta of 7.91.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings results on Tuesday, March 26th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $66.02 million. During the same period in the prior year, the business earned $0.01 earnings per share. Sell-side analysts forecast that Direct Digital Holdings, Inc. will post 0.16 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DRCT. Noble Financial restated a “market perform” rating on shares of Direct Digital in a research report on Wednesday, March 27th. Roth Mkm lowered their target price on shares of Direct Digital from $27.50 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. TheStreet lowered shares of Direct Digital from a “c” rating to a “d+” rating in a research report on Wednesday, February 14th. Finally, Benchmark restated a “buy” rating and set a $23.00 target price on shares of Direct Digital in a research report on Wednesday.

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.