Dimensional Fund Advisors LP Grows Stock Holdings in Digital Turbine, Inc. $APPS

Key Points

• Dimensional Fund Advisors increased its Digital Turbine stake by 56.1% in the first quarter, acquiring 846,116 additional shares and bringing its holdings to 2.35 million shares, or roughly 1.96% of the company.
• Institutional ownership remains substantial at 63.66%, while several other hedge funds initiated or expanded positions in Digital Turbine.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $14.75 price target. Digital Turbine also exceeded quarterly earnings and revenue expectations, reporting $0.19 EPS versus $0.14 expected and $165.98 million in revenue.

Dimensional Fund Advisors LP lifted its stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 56.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,353,594 shares of the software maker's stock after acquiring an additional 846,116 shares during the period. Dimensional Fund Advisors LP owned approximately 1.96% of Digital Turbine worth $6,778,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quarry LP raised its holdings in shares of Digital Turbine by 1,323.4% in the 4th quarter. Quarry LP now owns 5,594 shares of the software maker's stock valued at $28,000 after acquiring an additional 5,201 shares in the last quarter. Strs Ohio purchased a new stake in Digital Turbine in the first quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd bought a new stake in Digital Turbine during the fourth quarter valued at approximately $44,000. Y Intercept Hong Kong Ltd purchased a new position in Digital Turbine in the 1st quarter worth approximately $44,000. Finally, PFG Investments LLC bought a new position in shares of Digital Turbine in the 4th quarter worth $50,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on APPS shares. Roth Capital reiterated a "buy" rating and issued a $17.50 target price on shares of Digital Turbine in a research report on Thursday. Wall Street Zen cut Digital Turbine from a "strong-buy" rating to a "buy" rating in a report on Saturday. Craig Hallum reissued a "buy" rating and set a $18.00 price objective on shares of Digital Turbine in a report on Wednesday, August 5th. Zacks Research lowered Digital Turbine from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Benchmark lifted their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.75.

Digital Turbine Price Performance

APPS opened at $14.39 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.20 and a quick ratio of 1.20. The stock's 50 day simple moving average is $10.07 and its 200 day simple moving average is $6.21. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -55.35, a PEG ratio of 0.53 and a beta of 2.81. Digital Turbine, Inc. has a 1 year low of $2.74 and a 1 year high of $15.34.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. The firm had revenue of $165.98 million during the quarter, compared to the consensus estimate of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. As a group, analysts predict that Digital Turbine, Inc. will post 0.86 earnings per share for the current year.

Digital Turbine Company Profile

Digital Turbine, Inc NASDAQ: APPS is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company's flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.

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