Digital Turbine Sees Unusually Large Options Volume (NASDAQ:APPS)

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of unusually large options trading activity on Tuesday. Investors bought 33,149 call options on the company. This represents an increase of approximately 609% compared to the typical volume of 4,673 call options.

Institutional Trading of Digital Turbine

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. bought a new position in Digital Turbine in the 4th quarter valued at $490,000. Acuitas Investments LLC acquired a new stake in shares of Digital Turbine in the 4th quarter valued at $140,000. Bank of America Corp DE increased its stake in shares of Digital Turbine by 55.6% in the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker’s stock valued at $3,427,000 after buying an additional 724,297 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Digital Turbine by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker’s stock valued at $916,000 after buying an additional 153,991 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Digital Turbine in the 4th quarter valued at $1,698,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Craig Hallum raised their price objective on shares of Digital Turbine from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen lowered shares of Digital Turbine from a “hold” rating to a “sell” rating in a report on Monday, March 24th.

Digital Turbine Stock Performance

NASDAQ APPS opened at $6.74 on Thursday. The firm has a market cap of $721.05 million, a price-to-earnings ratio of -7.57 and a beta of 2.58. The company has a 50 day moving average of $4.11 and a 200-day moving average of $3.24. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 2.66. Digital Turbine has a 1-year low of $1.18 and a 1-year high of $7.77.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Monday, June 16th. The software maker reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The company had revenue of $119.15 million during the quarter, compared to analyst estimates of $116.64 million. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. During the same quarter last year, the business posted $0.12 earnings per share. On average, equities analysts forecast that Digital Turbine will post -0.03 earnings per share for the current fiscal year.

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.