Acuitas Investments LLC Buys New Stake in Digital Turbine, Inc. (NASDAQ:APPS)

Acuitas Investments LLC purchased a new position in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 82,938 shares of the software maker's stock, valued at approximately $140,000. Acuitas Investments LLC owned about 0.08% of Digital Turbine at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APPS. JPMorgan Chase & Co. boosted its stake in Digital Turbine by 719.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker's stock valued at $1,191,000 after purchasing an additional 340,512 shares during the last quarter. Geode Capital Management LLC increased its holdings in Digital Turbine by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker's stock worth $7,169,000 after buying an additional 181,032 shares in the last quarter. Barclays PLC increased its holdings in Digital Turbine by 62.5% in the 3rd quarter. Barclays PLC now owns 252,673 shares of the software maker's stock worth $776,000 after buying an additional 97,196 shares in the last quarter. SG Americas Securities LLC lifted its stake in Digital Turbine by 80.9% during the 3rd quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker's stock valued at $154,000 after acquiring an additional 22,385 shares during the period. Finally, Franklin Resources Inc. bought a new stake in shares of Digital Turbine in the third quarter worth approximately $185,000. Institutional investors own 63.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on APPS shares. Macquarie dropped their target price on shares of Digital Turbine from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Craig Hallum dropped their price target on Digital Turbine from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Bank of America cut Digital Turbine from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $3.50 to $1.00 in a research report on Friday, November 15th. Finally, StockNews.com raised Digital Turbine from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. 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 company's stock. According to MarketBeat, Digital Turbine has a consensus rating of "Hold" and a consensus price target of $2.38.

Digital Turbine Stock Performance

Digital Turbine stock traded down $0.56 during trading on Friday, reaching $4.23. The company had a trading volume of 5,807,577 shares, compared to its average volume of 8,887,789. The firm has a market capitalization of $444.19 million, a price-to-earnings ratio of -1.40 and a beta of 2.38. 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 firm's 50-day simple moving average is $2.82 and its 200 day simple moving average is $2.71. Digital Turbine, Inc. has a 52 week low of $1.18 and a 52 week high of $6.86.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts forecast that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

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.