Digital Turbine (NASDAQ:APPS) Sees Unusually-High Trading Volume on Strong Earnings

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) saw strong trading volume on Tuesday following a stronger than expected earnings report. 9,873,209 shares were traded during mid-day trading, an increase of 118% from the previous session's volume of 4,537,582 shares.The stock last traded at $6.95 and had previously closed at $4.81.

The software maker reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. The company had revenue of $119.15 million for the quarter, compared to analysts' expectations of $116.64 million. During the same period last year, the business earned $0.12 EPS.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Digital Turbine from a "hold" rating to a "sell" rating in a report on Monday, March 24th.

Institutional Trading of Digital Turbine

A number of institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP purchased a new stake in shares of Digital Turbine during the 4th quarter valued at $1,698,000. Segall Bryant & Hamill LLC purchased a new stake in Digital Turbine during the first quarter worth about $2,710,000. Vanguard Group Inc. raised its position in Digital Turbine by 11.2% in the first quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock worth $24,080,000 after acquiring an additional 893,035 shares during the period. Greenhaven Road Investment Management L.P. raised its position in Digital Turbine by 467.1% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,025,951 shares of the software maker's stock worth $2,785,000 after acquiring an additional 845,051 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Digital Turbine by 29,604.4% in the first quarter. Russell Investments Group Ltd. now owns 821,327 shares of the software maker's stock valued at $2,230,000 after acquiring an additional 818,562 shares during the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Stock Up 46.1%

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $737.88 million, a P/E ratio of -2.26 and a beta of 2.58. The stock's 50-day moving average price is $3.94 and its two-hundred day moving average price is $3.19.

Digital Turbine Company 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.

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