P.A.W. Capital Corp Purchases 350,000 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

P.A.W. Capital Corp grew its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 175.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 550,000 shares of the software maker's stock after buying an additional 350,000 shares during the quarter. Digital Turbine accounts for about 3.7% of P.A.W. Capital Corp's holdings, making the stock its 11th biggest position. P.A.W. Capital Corp owned approximately 0.52% of Digital Turbine worth $1,493,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. HBK Sorce Advisory LLC bought a new position in Digital Turbine in the 1st quarter valued at about $78,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Digital Turbine in the first quarter worth approximately $90,000. Pallas Capital Advisors LLC bought a new position in shares of Digital Turbine in the first quarter valued at approximately $58,000. Two Sigma Advisers LP boosted its position in shares of Digital Turbine by 0.4% during the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock valued at $2,775,000 after buying an additional 7,100 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Digital Turbine by 19.1% during the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock valued at $3,559,000 after buying an additional 337,959 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APPS has been the subject of a number of analyst reports. Wall Street Zen raised Digital Turbine from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Craig Hallum upped their target price 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 Stock Performance

Shares of Digital Turbine stock traded up $0.16 during mid-day trading on Friday, hitting $6.01. 3,750,036 shares of the stock were exchanged, compared to its average volume of 5,114,437. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $7.77. The company has a 50-day simple moving average of $4.78 and a 200 day simple moving average of $3.63. The company has a market capitalization of $643.38 million, a P/E ratio of -6.76 and a beta of 2.57. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.09 and a current ratio of 1.09.

Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $116.64 million. During the same period last year, the business posted $0.12 earnings per share. Sell-side analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

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.