Robert M. Deutschman Buys 20,000 Shares of Digital Turbine, Inc. (NASDAQ:APPS) Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman acquired 20,000 shares of Digital Turbine stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $1.23 per share, with a total value of $24,600.00. Following the completion of the purchase, the director now directly owns 591,216 shares in the company, valued at $727,195.68. This represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Digital Turbine Trading Up 18.2 %

APPS traded up $0.22 during trading on Wednesday, hitting $1.43. 5,967,386 shares of the company’s stock were exchanged, compared to its average volume of 3,129,396. The firm has a market cap of $148.33 million, a P/E ratio of -0.46, a price-to-earnings-growth ratio of 4.05 and a beta of 2.59. The stock has a 50 day moving average price of $2.78 and a 200 day moving average price of $2.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.33.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The business had revenue of $118.70 million for the quarter, compared to the consensus estimate of $125.85 million. During the same quarter last year, the business posted $0.04 EPS. The business’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, analysts expect that Digital Turbine, Inc. will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Digital Turbine during the 1st quarter worth $55,000. Janney Montgomery Scott LLC boosted its position in Digital Turbine by 23.4% in the first quarter. Janney Montgomery Scott LLC now owns 177,849 shares of the software maker’s stock worth $466,000 after purchasing an additional 33,755 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Digital Turbine by 143,142.6% during the 1st quarter. Russell Investments Group Ltd. now owns 67,324 shares of the software maker’s stock worth $176,000 after purchasing an additional 67,277 shares in the last quarter. Quadrature Capital Ltd bought a new position in Digital Turbine in the 1st quarter worth about $28,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Digital Turbine by 57.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 112,797 shares of the software maker’s stock valued at $296,000 after purchasing an additional 41,261 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APPS. Macquarie lowered their price target on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Craig Hallum lowered their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Bank of America cut shares of Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $3.50 to $1.00 in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Digital Turbine has a consensus rating of “Hold” and an average price target of $2.38.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.