Perkins Capital Management Inc. Increases Stake in Digital Turbine, Inc. (NASDAQ:APPS)

Perkins Capital Management Inc. increased its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 79.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 387,600 shares of the software maker’s stock after acquiring an additional 171,400 shares during the period. Perkins Capital Management Inc. owned approximately 0.37% of Digital Turbine worth $655,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of APPS. Oppenheimer & Co. Inc. raised its holdings in shares of Digital Turbine by 28.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker’s stock valued at $64,000 after buying an additional 8,426 shares during the period. Intech Investment Management LLC grew its position in Digital Turbine by 58.7% in the fourth quarter. Intech Investment Management LLC now owns 43,204 shares of the software maker’s stock valued at $73,000 after acquiring an additional 15,977 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Digital Turbine during the fourth quarter valued at approximately $28,000. Plancorp LLC purchased a new stake in shares of Digital Turbine during the fourth quarter valued at approximately $35,000. Finally, Ieq Capital LLC acquired a new position in shares of Digital Turbine during the fourth quarter worth $55,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.38.

Digital Turbine Stock Performance

Digital Turbine stock opened at $3.52 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50. The stock has a 50 day moving average of $3.45 and a 200-day moving average of $2.71. The stock has a market cap of $369.62 million, a P/E ratio of -1.16 and a beta of 2.43. Digital Turbine, Inc. has a 52 week low of $1.18 and a 52 week high of $6.86.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. On average, analysts expect that Digital Turbine, Inc. will post -0.03 EPS 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.