Digital Turbine, Inc. (NASDAQ:APPS) Stake Lessened by Millennium Management LLC

Millennium Management LLC decreased its holdings in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 88.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,171 shares of the software maker's stock after selling 328,695 shares during the quarter. Millennium Management LLC's holdings in Digital Turbine were worth $73,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in Digital Turbine during the fourth quarter worth approximately $28,000. Plancorp LLC acquired a new position in shares of Digital Turbine during the 4th quarter valued at $35,000. Cetera Investment Advisers increased its position in shares of Digital Turbine by 94.3% during the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock valued at $46,000 after purchasing an additional 13,317 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Digital Turbine in the 4th quarter worth $54,000. Finally, Ieq Capital LLC acquired a new stake in shares of Digital Turbine in the fourth quarter valued at $55,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Price Performance

Shares of APPS traded up $2.73 during trading hours on Tuesday, hitting $7.54. 76,966,221 shares of the company were exchanged, compared to its average volume of 4,768,507. The company has a market capitalization of $791.78 million, a PE ratio of -8.47 and a beta of 2.58. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a fifty day simple moving average of $4.03 and a 200-day simple moving average of $3.22. Digital Turbine, Inc. has a one year low of $1.18 and a one year high of $7.74.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its earnings results on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The business had revenue of $119.15 million during the quarter, compared to the consensus estimate of $116.64 million. Digital Turbine had a positive return on equity of 1.82% and a negative net margin of 18.61%. During the same period in the prior year, the business posted $0.12 earnings per share. As a group, sell-side analysts predict that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Analyst Ratings Changes

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

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.