Royce & Associates LP Purchases 7,000 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Royce & Associates LP boosted its stake in shares of Digital Turbine, Inc. (NASDAQ:APPSGet Rating) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,800 shares of the software maker’s stock after buying an additional 7,000 shares during the quarter. Royce & Associates LP owned approximately 0.19% of Digital Turbine worth $2,749,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in Digital Turbine by 1.8% during the first quarter. Advisors Asset Management Inc. now owns 27,375 shares of the software maker’s stock valued at $1,199,000 after buying an additional 495 shares during the period. Yousif Capital Management LLC grew its position in Digital Turbine by 1.4% during the first quarter. Yousif Capital Management LLC now owns 46,436 shares of the software maker’s stock valued at $2,034,000 after buying an additional 630 shares during the period. Cetera Investment Advisers grew its position in Digital Turbine by 5.5% during the first quarter. Cetera Investment Advisers now owns 13,123 shares of the software maker’s stock valued at $575,000 after buying an additional 687 shares during the period. Parkside Financial Bank & Trust grew its position in Digital Turbine by 74.4% during the third quarter. Parkside Financial Bank & Trust now owns 1,737 shares of the software maker’s stock valued at $25,000 after buying an additional 741 shares during the period. Finally, Texas Permanent School Fund grew its position in Digital Turbine by 1.4% during the third quarter. Texas Permanent School Fund now owns 64,563 shares of the software maker’s stock valued at $930,000 after buying an additional 917 shares during the period. Institutional investors own 62.45% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on APPS. Bank of America initiated coverage on shares of Digital Turbine in a research report on Monday, October 17th. They set a “buy” rating and a $24.00 price target for the company. Craig Hallum dropped their price objective on shares of Digital Turbine from $60.00 to $30.00 in a report on Thursday, November 10th. Roth Capital dropped their price objective on shares of Digital Turbine from $32.00 to $20.00 in a report on Monday, October 31st. StockNews.com raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Finally, B. Riley dropped their price objective on shares of Digital Turbine from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 5th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.83.

Digital Turbine Trading Down 1.7 %

Shares of Digital Turbine stock opened at $16.40 on Wednesday. Digital Turbine, Inc. has a 12-month low of $10.65 and a 12-month high of $55.68. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.04 and a beta of 2.39. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $16.12 and its 200-day moving average price is $17.06.

Digital Turbine (NASDAQ:APPSGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The software maker reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. Digital Turbine had a net margin of 5.82% and a return on equity of 26.56%. The firm had revenue of $174.86 million for the quarter, compared to the consensus estimate of $173.67 million. On average, equities analysts expect that Digital Turbine, Inc. will post 1.15 earnings per share for the current fiscal year.

Digital Turbine Profile

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).

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Institutional Ownership by Quarter for Digital Turbine (NASDAQ:APPS)

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