DLD Asset Management LP Purchases Shares of 100,000 Digital Turbine, Inc. $APPS

Key Points

• DLD Asset Management LP has invested approximately $272,000 in Digital Turbine, Inc., acquiring 100,000 shares of the software maker during the first quarter.
• Digital Turbine's shares have fluctuated between a one-year low of $1.18 and a high of $7.77, with current trading at around $4.56.
• Equities analysts have mixed views on Digital Turbine, with ratings ranging from upgrades to neutral to downgrades to hold, leading to an average price target of $5.17.

DLD Asset Management LP purchased a new position in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 100,000 shares of the software maker's stock, valued at approximately $272,000. DLD Asset Management LP owned about 0.10% of Digital Turbine as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Digital Turbine by 11.2% in the first quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock worth $24,080,000 after acquiring an additional 893,035 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Digital Turbine by 19.1% in the 4th quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock worth $3,559,000 after purchasing an additional 337,959 shares during the period. Bank of America Corp DE raised its holdings in 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 valued at $3,427,000 after buying an additional 724,297 shares during the period. Two Sigma Advisers LP boosted its position 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. boosted its position 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. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Stock Performance

Shares of APPS stock traded down $0.04 during midday trading on Wednesday, hitting $5.31. 1,562,197 shares of the company were exchanged, compared to its average volume of 5,525,307. The firm's 50 day moving average price is $4.75 and its two-hundred day moving average price is $4.27. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $574.96 million, a P/E ratio of -6.94, a PEG ratio of 3.21 and a beta of 2.29. Digital Turbine, Inc. has a 52 week low of $1.18 and a 52 week high of $7.77.

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

Analyst Ratings Changes

A number of research firms recently weighed in on APPS. Craig Hallum increased their price objective on shares of Digital Turbine from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen lowered Digital Turbine from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Bank of America upgraded Digital Turbine from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $4.50 to $5.50 in a research note on Wednesday, August 6th. One 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, Digital Turbine currently has an average rating of "Hold" and a consensus price target of $5.17.

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.