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

Greenhaven Road Investment Management L.P. grew its stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 467.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,025,951 shares of the software maker's stock after buying an additional 845,051 shares during the quarter. Digital Turbine makes up 1.1% of Greenhaven Road Investment Management L.P.'s portfolio, making the stock its 12th biggest holding. Greenhaven Road Investment Management L.P. owned 0.98% of Digital Turbine worth $2,785,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Plancorp LLC purchased a new position in Digital Turbine during the 4th quarter worth $35,000. Pallas Capital Advisors LLC purchased a new position in shares of Digital Turbine during the first quarter worth $58,000. Cerity Partners LLC purchased a new position in Digital Turbine in the first quarter valued at $70,000. ProShare Advisors LLC raised 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 buying an additional 8,892 shares in the last quarter. Finally, 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 purchasing an additional 13,317 shares in the last quarter. Institutional investors own 63.66% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Digital Turbine from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Craig Hallum increased their price objective on shares of Digital Turbine from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th.

Digital Turbine Price Performance

NASDAQ APPS traded up $0.18 on Monday, reaching $5.55. 4,953,980 shares of the company's stock traded hands, compared to its average volume of 5,166,229. The stock has a 50-day simple moving average of $5.18 and a 200 day simple moving average of $3.88. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $7.77. The stock has a market cap of $599.18 million, a PE ratio of -6.24 and a beta of 2.57. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.09 and a quick ratio of 1.09.

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

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.