Pacer Advisors Inc. reduced its stake in Digital Turbine, Inc. (NASDAQ: APPS – Get a rating) by 42.3% in the first quarter, Holdings Channel.com reports. The company held 6,935 shares of the software maker after selling 5,074 shares during the quarter. Pacer Advisors Inc.’s holdings in Digital Turbine were worth $304,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Guardian Wealth Management Inc. bought a new position in Digital Turbine during the fourth quarter worth approximately $26,000. Spire Wealth Management increased its equity stake in Digital Turbine by 675.7% during the 4th quarter. Spire Wealth Management now owns 574 shares of the software maker worth $35,000 after acquiring an additional 500 shares during the period. Retirement Planning Co of New England Inc. acquired a new position in shares of Digital Turbine during Q4, valued at approximately $82,000. Capital Market Strategies LLC purchased a new stake in shares of Digital Turbine in the fourth quarter worth approximately $211,000. Finally, Summit Global Investments acquired a new stake in Digital Turbine during the fourth quarter worth approximately $226,000. Institutional investors and hedge funds own 63.38% of the company’s shares.
Application Stock opened at $17.34 on Monday. The company’s fifty-day moving average price is $24.93 and its 200-day moving average price is $39.11. Digital Turbine, Inc. has a 12-month low of $14.43 and a 12-month high of $93.98. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt ratio of 1.01. The company has a market capitalization of $1.71 billion, a PE ratio of 51.00, a P/E/G ratio of 0.42 and a beta of 2.37.
Digital Turbine (NASDAQ: APPS – Get a rating) last released its quarterly results on Tuesday, May 31. The software maker reported earnings per share (EPS) of $0.35 for the quarter, beating analyst consensus estimates of $0.34 by $0.01. Digital Turbine achieved a net margin of 3.28% and a return on equity of 30.00%. The company posted revenue of $184.14 million for the quarter, versus analyst estimates of $336.45 million. In the same period a year earlier, the company earned $0.24 per share. The company’s revenue for the quarter increased by 93.7% compared to the same quarter last year. Research analysts predict that Digital Turbine, Inc. will post 1.53 EPS for the current fiscal year.
Several analysts have recently weighed in on APPS shares. Craig Hallum lowered his price target on Digital Turbine shares from $105.00 to $85.00 in a Wednesday, June 1 research note. StockNews.com assumed coverage on Digital Turbine in a research note on Thursday, March 31. They set a “sell” rating for the company. Oppenheimer reduced his target price on Digital Turbine from $117.00 to $40.00 and set an “outperform” rating on the stock in a Wednesday, June 1 research report. Finally, Macquarie reduced its price target on Digital Turbine from $70.00 to $40.00 and set an “outperform” rating for the company in a Wednesday, June 1 research report. One analyst gave the stock a sell rating and four gave the company a buy rating. Based on MarketBeat data, Digital Turbine currently has an average rating of “Moderate Buy” and an average target price of $79.40.
Digital Turbine Company Profile (Get a rating)
Digital Turbine, Inc, through its subsidiaries, provides multimedia and mobile communication products and solutions to mobile operators, application advertisers, publishers, original equipment manufacturers (OEMs) and other third parties. Its application media software platform that enables mobile operators and OEMs to control, manage and monetize devices.
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