Teachers Retirement System of The State of Kentucky lowered its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,373 shares of the software maker's stock after selling 5,947 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.11% of Digital Turbine worth $4,529,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in APPS. Guardian Wealth Management Inc. purchased a new position in Digital Turbine in the 4th quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in Digital Turbine in the 1st quarter worth $31,000. Quantbot Technologies LP purchased a new position in Digital Turbine in the 1st quarter worth $58,000. Canada Pension Plan Investment Board purchased a new position in Digital Turbine in the 1st quarter worth $73,000. Finally, Liberty One Investment Management LLC purchased a new position in Digital Turbine in the 1st quarter worth $138,000. Hedge funds and other institutional investors own 65.70% of the company's stock.
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Shares of APPS opened at $16.48 on Monday. The firm's 50-day moving average price is $19.96 and its 200-day moving average price is $26.14. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 1.35 and a beta of 2.41. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Digital Turbine, Inc. has a 1-year low of $14.43 and a 1-year high of $93.98.
Digital Turbine (NASDAQ:APPS – Get Rating) last announced its earnings results on Monday, August 8th. The software maker reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. The firm had revenue of $188.63 million for the quarter, compared to analyst estimates of $184.68 million. Digital Turbine had a net margin of 3.42% and a return on equity of 29.78%. Sell-side analysts anticipate that Digital Turbine, Inc. will post 1.23 EPS for the current year.Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Digital Turbine from a "sell" rating to a "hold" rating in a research report on Wednesday, August 17th. Oppenheimer cut their price target on shares of Digital Turbine from $117.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, June 1st. B. Riley raised their price target on shares of Digital Turbine from $29.00 to $33.00 in a report on Tuesday, August 9th. Craig Hallum cut their price target on shares of Digital Turbine to $60.00 in a report on Monday, August 15th. Finally, Macquarie cut their price target on shares of Digital Turbine from $70.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, June 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.60.
About Digital Turbine
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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 three segments: On Device Media, In App Media – AdColony, and In App Media – Fyber. 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 sponsored and editorial content media.
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