Acuitas Investments LLC Makes New $140,000 Investment in Digital Turbine, Inc. (NASDAQ:APPS)

Acuitas Investments LLC bought a new stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 82,938 shares of the software maker’s stock, valued at approximately $140,000. Acuitas Investments LLC owned about 0.08% of Digital Turbine as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in APPS. Blue Trust Inc. raised its stake in Digital Turbine by 104.1% during the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after buying an additional 4,167 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Digital Turbine during the third quarter valued at $43,000. Creative Planning purchased a new position in shares of Digital Turbine in the 3rd quarter worth about $57,000. The Manufacturers Life Insurance Company boosted its stake in Digital Turbine by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after purchasing an additional 3,695 shares in the last quarter. Finally, US Bancorp DE grew its position in Digital Turbine by 37.7% during the 3rd quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock valued at $82,000 after purchasing an additional 7,266 shares during the last quarter. 63.66% of the stock is owned by institutional investors.

Digital Turbine Price Performance

NASDAQ APPS opened at $6.19 on Tuesday. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.09. Digital Turbine, Inc. has a 1-year low of $1.18 and a 1-year high of $6.86. The stock has a market capitalization of $650.01 million, a price-to-earnings ratio of -2.04 and a beta of 2.38. The business’s fifty day moving average price is $2.55 and its 200-day moving average price is $2.64.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. On average, equities analysts predict that Digital Turbine, Inc. will post -0.13 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on APPS shares. StockNews.com raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Craig Hallum decreased their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Macquarie cut their target price on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.38.

About Digital Turbine

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.