Los Angeles Capital Management LLC Raises Stake in Digital Turbine, Inc. (NASDAQ:APPS)

Los Angeles Capital Management LLC boosted its position in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 33.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 210,370 shares of the software maker’s stock after acquiring an additional 52,640 shares during the period. Los Angeles Capital Management LLC’s holdings in Digital Turbine were worth $646,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after acquiring an additional 4,167 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Digital Turbine during the first quarter worth approximately $28,000. Ballentine Partners LLC purchased a new stake in shares of Digital Turbine during the 3rd quarter worth approximately $43,000. SG Americas Securities LLC purchased a new stake in shares of Digital Turbine during the 2nd quarter worth approximately $46,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Digital Turbine in the 1st quarter valued at $55,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Price Performance

Shares of APPS opened at $1.31 on Friday. The company has a market capitalization of $135.89 million, a price-to-earnings ratio of -0.44, a price-to-earnings-growth ratio of 4.61 and a beta of 2.59. Digital Turbine, Inc. has a fifty-two week low of $1.29 and a fifty-two week high of $7.33. The firm has a 50-day simple moving average of $2.84 and a 200-day simple moving average of $2.48. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09.

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 analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $118.70 million for the quarter, compared to analyst estimates of $125.85 million. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The firm’s revenue was down 17.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 earnings per share. On average, equities research analysts anticipate that Digital Turbine, Inc. will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

APPS has been the topic of several research analyst reports. Craig Hallum cut their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $3.50 to $1.00 in a research report on Friday. Finally, Macquarie decreased their price objective on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.38.

Insider Activity at Digital Turbine

In other news, Director Robert M. Deutschman bought 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $1.41 per share, with a total value of $141,000.00. Following the completion of the acquisition, the director now directly owns 571,216 shares in the company, valued at approximately $805,414.56. The trade was a 21.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is currently owned by insiders.

Digital Turbine 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.