TownSquare Capital LLC has acquired a new stake in Digital Turbine, Inc. (NASDAQ: APPS – Get a rating) during the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor bought 12,017 shares of the software maker, valued at around $526,000.
A number of other major investors have also recently changed their stances in the company. DekaBank Deutsche Girozentrale increased its stake in Digital Turbine by 113.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 25,573 shares of the software maker worth $1,154,000 after buying 13,573 additional shares in the last quarter. Comerica Bank increased its stake in Digital Turbine by 1.0% in the first quarter. Comerica Bank now owns 61,503 shares of the software maker worth $2,205,000 after buying an additional 590 shares in the last quarter. The New York State Teachers’ Retirement System increased its holdings in Digital Turbine 2.7% in the first quarter. The New York State Teachers’ Retirement System now owns 111,641 shares of the software maker worth $4,891,000 after buying 2,938 additional shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in Digital Turbine in the first quarter worth approximately $657,000. Finally, Sciencast Management LP acquired a new position in Digital Turbine in the first quarter worth approximately $375,000. Institutional investors and hedge funds own 63.38% of the company’s shares.
Digital Turbine Price Performance
Shares of Application Stock opened at $16.94 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt ratio of 1.01. Digital Turbine, Inc. has a 12-month low of $14.43 and a 12-month high of $93.98. The company has a market capitalization of $1.67 billion, a P/E ratio of 49.82, a P/E/G ratio of 0.41 and a beta of 2.47. The company has a fifty-day simple moving average of $20.15 and a 200-day simple moving average of $34.84.
Digital Turbine (NASDAQ: APPS – Get a rating) last reported results on Tuesday, May 31. The software maker reported EPS of $0.35 for the quarter, beating the consensus estimate of $0.34 by $0.01. The company posted revenue of $184.14 million in the quarter, versus a consensus estimate of $336.45 million. Digital Turbine had a return on equity of 30.00% and a net margin of 3.28%. The company’s quarterly revenue increased 93.7% year over year. During the same period last year, the company earned earnings per share of $0.24. On average, sell-side analysts expect Digital Turbine, Inc. to post EPS of 1.53 for the current fiscal year.
Analysts set new price targets
A number of research companies have recently commented on APPS. StockNews.com began covering Digital Turbine in a report on Thursday, March 31. They issued a “sell” rating on the stock. Macquarie reduced its target price on Digital Turbine from $70.00 to $40.00 and set an “outperform” rating for the company in a Wednesday, June 1 research report. B. Riley kicked off Digital Turbine’s coverage in a Tuesday, June 28 report. They set a “buy” rating and a price target of $29.00 for the company. Craig Hallum lowered his price target on Digital Turbine from $105.00 to $85.00 in a Wednesday, June 1 research report. Finally, Oppenheimer reduced its price target on Digital Turbine from $117.00 to $40.00 and set an “outperform” rating for the company in a Wednesday, June 1 research report. One analyst rated the stock with a sell rating and five rated the company’s stock with a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.00.
Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers and original equipment manufacturers (OEMs). The Company operates through three segments: On Device Media, In App Media – AdColony and In App Media – Fyber. Its application media platform provides mobile applications to various publishers, operators, equipment manufacturers and devices; and the content media platform offers news, weather, sports and other content, as well as programmatic advertising and sponsored and editorial content media.
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