Digital Turbine, Inc. (NASDAQ:APPS) Director Acquires $141,000.00 in Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the purchase, the director now directly owns 571,216 shares in the company, valued at $805,414.56. This represents a 21.22 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Digital Turbine Price Performance

NASDAQ APPS opened at $1.40 on Friday. Digital Turbine, Inc. has a 1 year low of $1.31 and a 1 year high of $7.33. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. The company’s 50 day simple moving average is $2.90 and its two-hundred day simple moving average is $2.49.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The firm had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $125.85 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, research analysts anticipate that Digital Turbine, Inc. will post 0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APPS. Macquarie dropped their price target on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Craig Hallum dropped their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

Institutional Trading of Digital Turbine

Several institutional investors and hedge funds have recently bought and sold shares of APPS. Jacobs Levy Equity Management Inc. bought a new position in shares of Digital Turbine in the 1st quarter worth $2,177,000. AQR Capital Management LLC increased its holdings in shares of Digital Turbine by 97.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock worth $2,546,000 after buying an additional 755,707 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of Digital Turbine in the 2nd quarter worth $725,000. Acadian Asset Management LLC bought a new position in shares of Digital Turbine in the 2nd quarter worth $594,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Digital Turbine in the 2nd quarter worth $589,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

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.