Amalgamated Bank reduced its position in Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,393 shares of the software maker's stock after selling 2,745 shares during the period. Amalgamated Bank's holdings in Digital Turbine were worth $2,646,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of APPS. Bank of Montreal Can raised its position in Digital Turbine by 148.6% in the 4th quarter. Bank of Montreal Can now owns 96,135 shares of the software maker's stock valued at $6,046,000 after buying an additional 57,459 shares during the last quarter. Geode Capital Management LLC raised its position in Digital Turbine by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,558,196 shares of the software maker's stock valued at $95,034,000 after buying an additional 36,607 shares during the last quarter. Gotham Asset Management LLC raised its position in Digital Turbine by 46.1% in the 4th quarter. Gotham Asset Management LLC now owns 15,802 shares of the software maker's stock valued at $964,000 after buying an additional 4,988 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Digital Turbine during the 4th quarter valued at $350,000. Finally, Summit Global Investments purchased a new stake in shares of Digital Turbine during the 4th quarter valued at $226,000. 65.70% of the stock is owned by hedge funds and other institutional investors.
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APPS stock opened at $14.91 on Friday. Digital Turbine, Inc. has a fifty-two week low of $14.43 and a fifty-two week high of $93.98. The stock has a fifty day moving average of $19.91 and a 200-day moving average of $25.45. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 42.60, a PEG ratio of 1.25 and a beta of 2.41.
Digital Turbine (NASDAQ:APPS – Get Rating) last issued its earnings results on Monday, August 8th. The software maker reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Digital Turbine had a return on equity of 29.78% and a net margin of 3.42%. The business had revenue of $188.63 million during the quarter, compared to the consensus estimate of $184.68 million. As a group, equities research analysts predict that Digital Turbine, Inc. will post 1.23 earnings per share for the current year.Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. B. Riley raised their target price on Digital Turbine from $29.00 to $33.00 in a research report on Tuesday, August 9th. Craig Hallum decreased their target price on Digital Turbine to $60.00 in a research report on Monday, August 15th. Macquarie decreased their target price on Digital Turbine from $70.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, June 1st. StockNews.com raised Digital Turbine from a "sell" rating to a "hold" rating in a research report on Wednesday, August 17th. Finally, Oppenheimer cut their price target on Digital Turbine from $117.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, June 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.60.
Digital Turbine Profile
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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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