Digital Turbine, Inc. (NASDAQ:APPS) Director Acquires $10,010.00 in Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Michelle M. Sterling purchased 7,000 shares of Digital Turbine stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $1.43 per share, with a total value of $10,010.00. Following the completion of the transaction, the director now directly owns 24,640 shares of the company’s stock, valued at approximately $35,235.20. The trade was a 39.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Digital Turbine Price Performance

APPS opened at $1.48 on Thursday. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $7.33. The business has a 50 day moving average of $2.48 and a 200-day moving average of $2.41. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $118.70 million during the quarter, compared to analyst estimates of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The business’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. As a group, research analysts predict that Digital Turbine, Inc. will post -0.13 earnings per share for the current year.

Institutional Trading of Digital Turbine

Several hedge funds have recently added to or reduced their stakes in APPS. Quadrature Capital Ltd acquired a new stake in Digital Turbine during the 1st quarter worth approximately $28,000. Price T Rowe Associates Inc. MD increased its stake in Digital Turbine by 57.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 112,797 shares of the software maker’s stock worth $296,000 after acquiring an additional 41,261 shares during the period. Public Employees Retirement System of Ohio bought a new position in Digital Turbine during the 1st quarter worth $192,000. Janus Henderson Group PLC increased its stake in Digital Turbine by 6.0% during the 1st quarter. Janus Henderson Group PLC now owns 239,595 shares of the software maker’s stock worth $628,000 after acquiring an additional 13,648 shares during the period. Finally, SG Americas Securities LLC bought a new position in Digital Turbine during the 2nd quarter worth $46,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.