Russell Investments Group Ltd. Purchases 818,562 Shares of Digital Turbine, Inc. $APPS

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Digital Turbine, Inc. by 29,604.4%, reaching a total of 821,327 shares valued at approximately $2.23 million.
• Digital Turbine reported a $0.05 EPS for the latest quarter, missing expectations, but its revenue of $130.93 million surpassed the consensus estimate of $121.94 million.
• Wall Street analysts have varying opinions on Digital Turbine, with price targets ranging from $5.50 to $8.00, indicating a consensus rating of "Hold".

Russell Investments Group Ltd. raised its position in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 29,604.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 821,327 shares of the software maker's stock after acquiring an additional 818,562 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.78% of Digital Turbine worth $2,230,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 valued at $24,080,000 after acquiring an additional 893,035 shares during the period. Two Sigma Investments LP lifted its holdings in Digital Turbine by 19.1% in the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock valued at $3,559,000 after acquiring an additional 337,959 shares during the period. Bank of America Corp DE raised its stake in shares of Digital Turbine by 55.6% in the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock worth $3,427,000 after buying an additional 724,297 shares during the period. Two Sigma Advisers LP raised its stake 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. Finally, Greenhaven Road Investment Management L.P. raised its stake in shares of 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 buying an additional 845,051 shares during the period. Institutional investors own 63.66% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America raised Digital Turbine from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $4.50 to $5.50 in a research note on Wednesday, August 6th. Wall Street Zen downgraded Digital Turbine from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Craig Hallum raised their price objective on Digital Turbine from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $5.17.

Digital Turbine Price Performance

Shares of NASDAQ:APPS traded down $0.06 during trading on Friday, hitting $4.20. 1,849,699 shares of the company's stock were exchanged, compared to its average volume of 4,234,983. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.09 and a quick ratio of 1.09. Digital Turbine, Inc. has a 52-week low of $1.18 and a 52-week high of $7.77. The business's 50-day simple moving average is $5.02 and its 200 day simple moving average is $4.29. The company has a market cap of $455.20 million, a price-to-earnings ratio of -5.45, a PEG ratio of 2.72 and a beta of 2.57.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%.The business had revenue of $130.93 million for the quarter, compared to analysts' expectations of $121.94 million. Digital Turbine has set its FY 2026 guidance at EPS. As a group, equities analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Digital Turbine 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.