Intech Investment Management LLC Raises Stock Holdings in Digital Turbine, Inc. (NASDAQ:APPS)

Intech Investment Management LLC grew its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 58.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,204 shares of the software maker’s stock after buying an additional 15,977 shares during the period. Intech Investment Management LLC’s holdings in Digital Turbine were worth $73,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Digital Turbine during the fourth quarter valued at approximately $28,000. Ieq Capital LLC bought a new stake in shares of Digital Turbine during the 4th quarter valued at $55,000. Oppenheimer & Co. Inc. lifted its stake 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 in the last quarter. Acuitas Investments LLC bought a new position in Digital Turbine in the 4th quarter worth $140,000. Finally, Gagnon Securities LLC increased its stake in Digital Turbine by 99.1% in the 4th quarter. Gagnon Securities LLC now owns 104,123 shares of the software maker’s stock worth $176,000 after buying an additional 51,814 shares in 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 $2.84 on Friday. The company has a market capitalization of $298.22 million, a PE ratio of -0.94 and a beta of 2.43. The company’s fifty day moving average price is $3.59 and its 200-day moving average price is $2.72. Digital Turbine, Inc. has a one year low of $1.18 and a one year high of $6.86. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.06 and a current ratio of 1.06.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results 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%. On average, equities analysts anticipate that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded Digital Turbine from a “hold” rating to a “sell” rating in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.