CenterBook Partners LP Acquires 122,339 Shares of Digital Turbine, Inc. $APPS

CenterBook Partners LP acquired a new stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 122,339 shares of the software maker's stock, valued at approximately $1,358,000. CenterBook Partners LP owned approximately 0.10% of Digital Turbine at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Granahan Investment Management LLC lifted its position in Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker's stock worth $20,484,000 after purchasing an additional 762,888 shares during the period. Bank of America Corp DE grew its stake in Digital Turbine by 17.4% during the first quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker's stock worth $10,423,000 after buying an additional 535,169 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Digital Turbine by 56.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker's stock valued at $6,778,000 after buying an additional 846,116 shares during the period. Bank of New York Mellon Corp bought a new position in Digital Turbine in the 2nd quarter valued at about $5,374,000. Finally, Globeflex Capital L P bought a new position in Digital Turbine in the 2nd quarter valued at about $4,745,000. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Stock Performance

NASDAQ:APPS opened at $11.30 on Tuesday. Digital Turbine, Inc. has a twelve month low of $2.74 and a twelve month high of $15.34. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The stock's 50-day simple moving average is $10.59 and its 200 day simple moving average is $7.68. The firm has a market capitalization of $1.37 billion, a PE ratio of -43.46, a price-to-earnings-growth ratio of 0.49 and a beta of 3.01.

Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its earnings results on Monday, November 9th. The software maker reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $178.68 million during the quarter, compared to the consensus estimate of $166.75 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. On average, analysts anticipate that Digital Turbine, Inc. will post 0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APPS. Zacks Research cut shares of Digital Turbine from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Craig Hallum reiterated a "buy" rating and set a $18.00 price target on shares of Digital Turbine in a research report on Wednesday, August 5th. Northland Securities started coverage on shares of Digital Turbine in a research report on Thursday, October 29th. They set an "outperform" rating and a $17.00 price target on the stock. Royal Bank Of Canada began coverage on shares of Digital Turbine in a research note on Thursday, October 1st. They issued an "outperform" rating and a $15.00 price objective on the stock. Finally, TD Cowen restated a "hold" rating on shares of Digital Turbine in a research report on Tuesday, September 29th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Digital Turbine currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.42.

Key Headlines Impacting Digital Turbine

Here are the key news stories impacting Digital Turbine this week:

• Positive Sentiment: Fiscal Q2 revenue rose 27% year over year to $178.7 million, above analyst expectations of about $166.8 million. Adjusted EPS was $0.18, also ahead of estimates, while adjusted EBITDA increased 46% to $39.8 million. Company results
• Negative Sentiment: Despite the beats, higher partner payouts squeezed margins, prompting concern about how much of the revenue growth is translating into profit. Digital Turbine reported $10.3 million in GAAP net income, while adjusted net income was $23.4 million; after-hours coverage said shares fell sharply in response to the margin concerns. After-hours reaction
• Neutral Sentiment: The recent CFO appointment adds a leadership transition as investors assess execution, cash generation and the company’s debt position. CFO transition

Digital Turbine Company Profile

Digital Turbine, Inc provides mobile technology and advertising solutions that connect app developers and advertisers with consumers through smartphones and other connected devices. Its platform supports app discovery, user acquisition, and advertising across the mobile ecosystem.

The company's services include on-device app recommendations and installation tools, as well as advertising solutions for app publishers and brands. Digital Turbine works with mobile operators and device manufacturers to deliver these services to users.

Digital Turbine expanded its mobile advertising capabilities through acquisitions, including AdColony and Fyber in 2021.

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