Digital Turbine Target of Unusually Large Options Trading (NASDAQ:APPS)

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) saw some unusual options trading on Tuesday. Stock traders bought 33,149 call options on the stock. This is an increase of 609% compared to the typical daily volume of 4,673 call options.

Institutional Trading of Digital Turbine

A number of hedge funds and other institutional investors have recently modified their holdings of APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Digital Turbine by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,090 shares of the software maker's stock valued at $93,000 after purchasing an additional 2,356 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Digital Turbine by 0.4% in the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock worth $2,775,000 after buying an additional 7,100 shares during the period. Oppenheimer & Co. Inc. grew its stake in Digital Turbine by 28.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker's stock valued at $64,000 after acquiring an additional 8,426 shares in the last quarter. ProShare Advisors LLC grew its position in Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock valued at $46,000 after purchasing an additional 8,892 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Digital Turbine by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 170,647 shares of the software maker's stock worth $289,000 after buying an additional 8,929 shares in the last quarter. Institutional investors own 63.66% of the company's stock.

Analysts Set New Price Targets

APPS has been the subject of a number of analyst reports. Wall Street Zen cut Digital Turbine from a "hold" rating to a "sell" rating in a report on Monday, March 24th. Craig Hallum increased their price objective on shares of Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Tuesday.

Digital Turbine Stock Performance

Shares of APPS traded down $0.98 during midday trading on Friday, hitting $5.76. 13,004,193 shares of the stock traded hands, compared to its average volume of 9,069,338. The firm has a market capitalization of $616.20 million, a PE ratio of 337.00 and a beta of 2.58. The business's 50 day moving average price is $4.26 and its two-hundred day moving average price is $3.31. Digital Turbine has a 1-year low of $1.18 and a 1-year high of $7.77. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.06 and a current ratio of 1.09.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. The company had revenue of $119.15 million during the quarter, compared to analysts' expectations of $116.64 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. Equities research analysts predict that Digital Turbine will post -0.03 EPS for the current fiscal year.

About Digital Turbine

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.