GSA Capital Partners LLP Trims Stock Position in Digital Turbine, Inc. (NASDAQ:APPS)

GSA Capital Partners LLP reduced its holdings in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 65.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 272,774 shares of the software maker's stock after selling 512,885 shares during the period. GSA Capital Partners LLP owned about 0.27% of Digital Turbine worth $837,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APPS. Jacobs Levy Equity Management Inc. purchased a new position in shares of Digital Turbine during the 1st quarter valued at approximately $2,177,000. AQR Capital Management LLC increased its holdings in Digital Turbine by 97.1% in the second quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker's stock valued at $2,546,000 after buying an additional 755,707 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Digital Turbine in the second quarter worth about $725,000. Acadian Asset Management LLC purchased a new stake in shares of Digital Turbine during the 2nd quarter worth about $594,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Digital Turbine during the 2nd quarter valued at about $589,000. Institutional investors and hedge funds own 63.66% of the company's stock.

Digital Turbine Stock Down 6.4 %

Digital Turbine stock traded down $0.09 during mid-day trading on Friday, hitting $1.31. The company's stock had a trading volume of 7,203,296 shares, compared to its average volume of 4,800,824. The stock's fifty day moving average is $2.84 and its two-hundred day moving average is $2.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. Digital Turbine, Inc. has a 1 year low of $1.29 and a 1 year high of $7.33.

Digital Turbine (NASDAQ:APPS - Get Free Report) last issued 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). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The business had revenue of $118.70 million for the quarter, compared to analyst estimates of $125.85 million. During the same period in the previous year, the business posted $0.04 earnings per share. The firm's revenue for the quarter was down 17.1% compared to the same quarter last year. Sell-side analysts expect that Digital Turbine, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at Digital Turbine

In related news, Director Robert M. Deutschman purchased 100,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were bought at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the acquisition, the director now directly owns 571,216 shares in the company, valued at $805,414.56. This trade represents a 21.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.80% of the company's stock.

Wall Street Analyst Weigh In

APPS has been the subject of several recent analyst reports. Craig Hallum cut their price target on shares of Digital Turbine from $5.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Macquarie cut their target price on shares of Digital Turbine from $3.00 to $2.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, Bank of America cut shares of Digital Turbine from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $3.50 to $1.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $2.38.

Digital Turbine Company 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.