Informed Momentum Co LLC Takes $320,000 Position in Digital Turbine, Inc. (NASDAQ:APPS)

Key Points

• Informed Momentum Co LLC has acquired a new stake in Digital Turbine, purchasing 117,691 shares valued at approximately $320,000, representing about 0.11% of the company's total shares.
• Several institutional investors, including Vanguard Group Inc. and Greenhaven Road Investment Management, have significantly increased their holdings in Digital Turbine, indicating strong interest in the company.
• Digital Turbine has reported a quarterly loss with earnings of $0.05 per share, missing analysts' expectations of $0.10, despite higher revenue of $130.93 million for the quarter.

Informed Momentum Co LLC purchased a new stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 117,691 shares of the software maker's stock, valued at approximately $320,000. Informed Momentum Co LLC owned about 0.11% of Digital Turbine as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of APPS. Marshall Wace LLP bought a new position in shares of Digital Turbine in the 4th quarter valued at $1,698,000. Segall Bryant & Hamill LLC acquired a new stake in Digital Turbine in the first quarter valued at $2,710,000. Vanguard Group Inc. increased its holdings in Digital Turbine by 11.2% in the first quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock valued at $24,080,000 after purchasing an additional 893,035 shares during the period. Greenhaven Road Investment Management L.P. increased its holdings in 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 valued at $2,785,000 after purchasing an additional 845,051 shares during the period. Finally, Bank of America Corp DE increased 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 purchasing an additional 724,297 shares during the period. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Stock Performance

Shares of Digital Turbine stock opened at $4.39 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.63. The business has a 50-day moving average price of $5.38 and a two-hundred day moving average price of $4.23. Digital Turbine, Inc. has a 1-year low of $1.18 and a 1-year high of $7.77. The company has a market cap of $475.79 million, a P/E ratio of -5.70, a PEG ratio of 2.73 and a beta of 2.57.

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

Wall Street Analysts Forecast Growth

APPS has been the subject of a number of recent research reports. Wall Street Zen downgraded Digital Turbine from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Craig Hallum increased their price objective on Digital Turbine from $7.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Bank of America upgraded Digital Turbine from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $4.50 to $5.50 in a report on Wednesday, August 6th.

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.

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