Greenhaven Road Investment Management L.P. Has $2.79 Million Holdings in Digital Turbine, Inc. (NASDAQ:APPS)

Greenhaven Road Investment Management L.P. raised its holdings in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 467.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,025,951 shares of the software maker's stock after buying an additional 845,051 shares during the quarter. Digital Turbine comprises 1.1% of Greenhaven Road Investment Management L.P.'s holdings, making the stock its 12th largest position. Greenhaven Road Investment Management L.P. owned 0.98% of Digital Turbine worth $2,785,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Plancorp LLC purchased a new position in shares of Digital Turbine during the 4th quarter worth approximately $35,000. Cetera Investment Advisers increased its position in shares of Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock worth $46,000 after acquiring an additional 13,317 shares during the last quarter. ProShare Advisors LLC boosted its stake in Digital Turbine by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock valued at $46,000 after acquiring an additional 8,892 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Digital Turbine during the fourth quarter valued at approximately $54,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Digital Turbine in the first quarter valued at $58,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Stock Down 1.2%

Shares of NASDAQ:APPS traded down $0.07 during trading hours on Wednesday, hitting $5.33. The company's stock had a trading volume of 695,465 shares, compared to its average volume of 5,164,674. Digital Turbine, Inc. has a 52 week low of $1.18 and a 52 week high of $7.77. The firm's fifty day moving average price is $5.23 and its 200 day moving average price is $3.91. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $574.89 million, a price-to-earnings ratio of -5.98 and a beta of 2.57.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. The business had revenue of $119.15 million for the quarter, compared to analysts' expectations of $116.64 million. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. During the same period in the prior year, the company posted $0.12 EPS. As a group, research analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APPS. Wall Street Zen upgraded shares of Digital Turbine from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Craig Hallum boosted 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, June 17th.

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.