JPMorgan Chase & Co. Grows Position in Digital Turbine, Inc. (NASDAQ:APPS)

JPMorgan Chase & Co. grew its position in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 39.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 541,825 shares of the software maker's stock after purchasing an additional 153,991 shares during the period. JPMorgan Chase & Co. owned about 0.52% of Digital Turbine worth $916,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Perkins Capital Management Inc. boosted its holdings in Digital Turbine by 79.3% during the fourth quarter. Perkins Capital Management Inc. now owns 387,600 shares of the software maker's stock worth $655,000 after purchasing an additional 171,400 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Digital Turbine by 48.7% during the fourth quarter. American Century Companies Inc. now owns 119,586 shares of the software maker's stock worth $202,000 after buying an additional 39,190 shares in the last quarter. Plancorp LLC acquired a new position in shares of Digital Turbine during the 4th quarter worth approximately $35,000. Virtu Financial LLC acquired a new stake in shares of Digital Turbine during the 4th quarter worth $336,000. Finally, Intech Investment Management LLC increased its holdings in Digital Turbine by 58.7% in the 4th quarter. Intech Investment Management LLC now owns 43,204 shares of the software maker's stock valued at $73,000 after buying an additional 15,977 shares during the period. 63.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Digital Turbine from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Digital Turbine has a consensus rating of "Hold" and an average price target of $2.38.

Digital Turbine Stock Performance

Digital Turbine stock traded down $0.17 during midday trading on Wednesday, reaching $3.00. The stock had a trading volume of 2,705,952 shares, compared to its average volume of 4,243,870. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $6.86. The firm's 50-day moving average price is $3.09 and its 200 day moving average price is $2.71. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $315.02 million, a PE ratio of -0.99 and a beta of 2.48.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. As a group, research analysts predict 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.