Intech Investment Management LLC Acquires 21,395 Shares of Digital Turbine, Inc. $APPS

Intech Investment Management LLC raised its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 31.0% in the second quarter, Holdings Channel reports. The institutional investor owned 90,383 shares of the software maker’s stock after buying an additional 21,395 shares during the quarter. Intech Investment Management LLC’s holdings in Digital Turbine were worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of APPS. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Digital Turbine during the first quarter valued at about $1,271,000. Vanguard Group Inc. grew its holdings in shares of Digital Turbine by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker’s stock worth $24,080,000 after purchasing an additional 893,035 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Digital Turbine during the 1st quarter worth approximately $122,000. Deutsche Bank AG bought a new stake in shares of Digital Turbine during the first quarter valued at approximately $212,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Digital Turbine by 27.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,939 shares of the software maker’s stock valued at $399,000 after purchasing an additional 31,376 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on APPS shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digital Turbine in a research report on Monday, November 17th. Craig Hallum reaffirmed a “buy” rating and set a $10.00 price objective on shares of Digital Turbine in a report on Wednesday, November 5th. Bank of America upgraded shares of Digital Turbine from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $4.50 to $5.50 in a research report on Wednesday, August 6th. Wall Street Zen cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Zacks Research raised Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Digital Turbine currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Digital Turbine Stock Up 1.8%

Shares of NASDAQ:APPS opened at $4.78 on Friday. The company’s fifty day moving average is $5.90 and its 200-day moving average is $5.29. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.10 and a current ratio of 1.10. Digital Turbine, Inc. has a 52 week low of $1.40 and a 52 week high of $8.28. The company has a market capitalization of $535.52 million, a PE ratio of -6.54, a P/E/G ratio of 1.38 and a beta of 2.55.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $140.38 million during the quarter, compared to the consensus estimate of $142.00 million. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. Equities research analysts predict that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

Digital Turbine Profile

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.