Digital Turbine, Inc. (NASDAQ:APPS) Shares Acquired by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft boosted its position in Digital Turbine, Inc. (NASDAQ:APPS) by 22.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 532,325 shares of the software maker’s stock after acquiring an additional 96,393 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Digital Turbine were worth $899,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in shares of Digital Turbine by 15.1% in the second quarter. American Century Companies Inc. now owns 58,781 shares of the software maker’s stock worth $98,000 after acquiring an additional 7,725 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Digital Turbine by 97.1% during the second 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 in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Digital Turbine by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after buying an additional 3,695 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Digital Turbine by 20.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 96,894 shares of the software maker’s stock worth $161,000 after purchasing an additional 16,538 shares during the last quarter. Finally, Point72 DIFC Ltd increased its holdings in Digital Turbine by 18.4% in the second quarter. Point72 DIFC Ltd now owns 44,603 shares of the software maker’s stock valued at $74,000 after buying an additional 6,936 shares during the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Price Performance

APPS stock opened at $2.45 on Thursday. The firm’s 50-day moving average is $1.76 and its two-hundred day moving average is $2.43. Digital Turbine, Inc. has a 52 week low of $1.18 and a 52 week high of $5.99. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $125.85 million. During the same quarter last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was down 17.1% on a year-over-year basis. Equities research analysts expect that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert M. Deutschman acquired 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the transaction, the director now owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. The trade was a 21.22 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have acquired 127,000 shares of company stock worth $175,610. 5.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on APPS shares. Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. Macquarie lowered their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Craig Hallum cut their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.38.

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.