Cornerstone Investment Partners LLC Takes Position in Digital Turbine, Inc. (NASDAQ:APPS)

Cornerstone Investment Partners LLC purchased a new stake in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 47,046 shares of the software maker's stock, valued at approximately $128,000.

Several other institutional investors have also bought and sold shares of APPS. SBI Securities Co. Ltd. acquired a new stake in Digital Turbine in the 4th quarter valued at about $28,000. Plancorp LLC acquired a new stake in Digital Turbine in the 4th quarter valued at about $35,000. Cetera Investment Advisers lifted its holdings in Digital Turbine by 94.3% in the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock valued at $46,000 after acquiring an additional 13,317 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Digital Turbine by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock valued at $46,000 after acquiring an additional 8,892 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Digital Turbine in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 63.66% of the company's stock.

Digital Turbine Trading Up 5.1%

APPS stock traded up $0.26 during mid-day trading on Monday, reaching $5.34. 4,371,301 shares of the stock traded hands, compared to its average volume of 6,184,946. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.66. Digital Turbine, Inc. has a 52-week low of $1.18 and a 52-week high of $7.77. The company has a market cap of $571.27 million, a P/E ratio of -6.00 and a beta of 2.57. The stock's fifty day moving average is $5.02 and its 200-day moving average is $3.76.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on APPS shares. Craig Hallum upped their price target on shares of Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Wall Street Zen raised shares of Digital Turbine from a "hold" rating to a "buy" rating in a report on Saturday, June 21st.

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.