Millennium Management LLC reduced 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 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,171 shares of the software maker's stock after selling 328,695 shares during the period. Millennium Management LLC's holdings in Digital Turbine were worth $73,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of APPS. SBI Securities Co. Ltd. acquired a new position in Digital Turbine in the 4th quarter worth about $28,000. Plancorp LLC acquired a new position in Digital Turbine in the 4th quarter worth about $35,000. Cetera Investment Advisers increased its position in Digital Turbine by 94.3% in the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock worth $46,000 after purchasing an additional 13,317 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Digital Turbine in the 4th quarter worth about $54,000. Finally, Ieq Capital LLC acquired a new position in Digital Turbine in the 4th quarter worth about $55,000. 63.66% of the stock is owned by institutional investors and hedge funds.
Digital Turbine Stock Down 6.0%
APPS stock traded down $0.30 during mid-day trading on Friday, hitting $4.68. The stock had a trading volume of 3,891,221 shares, compared to its average volume of 4,429,890. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50. Digital Turbine, Inc. has a 1-year low of $1.18 and a 1-year high of $6.86. The company has a fifty day moving average of $3.89 and a 200 day moving average of $3.14. The stock has a market capitalization of $491.43 million, a price-to-earnings ratio of -1.54 and a beta of 2.58.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered Digital Turbine from a "hold" rating to a "sell" rating in a research report on Monday, March 24th.
Get Our Latest Stock Analysis on Digital Turbine
Digital Turbine Company Profile
(
Free Report)
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.
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