GAMMA Investing LLC Takes $43,000 Position in Digital Turbine, Inc. (NASDAQ:APPS)

GAMMA Investing LLC purchased a new position in Digital Turbine, Inc. (NASDAQ:APPS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,236 shares of the software maker’s stock, valued at approximately $43,000.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. boosted its position in shares of Digital Turbine by 87.6% during the fourth quarter. Blue Trust Inc. now owns 9,093 shares of the software maker’s stock valued at $62,000 after buying an additional 4,245 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Digital Turbine by 194.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,725 shares of the software maker’s stock valued at $65,000 after acquiring an additional 7,081 shares during the period. Allspring Global Investments Holdings LLC grew its position in Digital Turbine by 70.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,792 shares of the software maker’s stock valued at $102,000 after acquiring an additional 6,914 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Digital Turbine by 113.4% in the fourth quarter. Meeder Asset Management Inc. now owns 22,069 shares of the software maker’s stock worth $151,000 after purchasing an additional 11,725 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in shares of Digital Turbine during the third quarter worth $160,000. 63.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on APPS shares. StockNews.com upgraded shares of Digital Turbine from a “sell” rating to a “hold” rating in a report on Tuesday. Craig Hallum dropped their price objective on Digital Turbine from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Finally, Roth Mkm decreased their target price on Digital Turbine from $5.50 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.50.

Digital Turbine Price Performance

Shares of APPS stock opened at $2.06 on Friday. The company has a market cap of $210.16 million, a P/E ratio of -1.05, a PEG ratio of 4.77 and a beta of 2.54. The stock’s 50-day moving average is $2.47 and its 200 day moving average is $4.37. Digital Turbine, Inc. has a 1-year low of $1.78 and a 1-year high of $14.61. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.07 and a quick ratio of 1.07.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $142.63 million during the quarter, compared to analyst estimates of $146.45 million. Digital Turbine had a negative net margin of 34.53% and a positive return on equity of 4.48%. Research analysts predict that Digital Turbine, Inc. will post 0.16 earnings per share for the current fiscal year.

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.