Cornerstone Investment Partners LLC Buys Shares of 47,046 Digital Turbine, Inc. (NASDAQ:APPS)

Cornerstone Investment Partners LLC bought a new position in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 47,046 shares of the software maker's stock, valued at approximately $128,000.

A number of other hedge funds also recently made changes to their positions in APPS. SBI Securities Co. Ltd. bought a new stake in shares of Digital Turbine in the 4th quarter worth about $28,000. Plancorp LLC purchased a new position in Digital Turbine in the fourth quarter worth about $35,000. Cetera Investment Advisers increased its stake in Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock worth $46,000 after acquiring an additional 13,317 shares during the last quarter. ProShare Advisors LLC raised 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 during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Digital Turbine in the 4th quarter valued at approximately $54,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Trading Down 5.9%

Shares of NASDAQ APPS traded down $0.32 during midday trading on Friday, hitting $5.08. The company's stock had a trading volume of 4,020,570 shares, compared to its average volume of 5,151,361. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $7.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.66. The firm has a market cap of $543.46 million, a P/E ratio of -5.71 and a beta of 2.57. The business's 50 day moving average is $5.02 and its two-hundred day moving average is $3.73.

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

Analyst Ratings Changes

APPS has been the topic of several analyst reports. Craig Hallum boosted their target price on Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Wall Street Zen upgraded shares of Digital Turbine from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st.

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.