Digital Turbine, Inc. (NASDAQ:APPS) Director Michelle M. Sterling Purchases 7,000 Shares

Digital Turbine, Inc. (NASDAQ:APPS) Director Michelle M. Sterling purchased 7,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of $1.43 per share, for a total transaction of $10,010.00. Following the completion of the acquisition, the director now directly owns 24,640 shares in the company, valued at approximately $35,235.20. This represents a 39.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Digital Turbine Trading Up 0.7 %

NASDAQ:APPS opened at $1.46 on Wednesday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $151.45 million, a price-to-earnings ratio of -0.49 and a beta of 2.37. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.33. The stock has a fifty day moving average price of $2.50 and a two-hundred day moving average price of $2.42.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Digital Turbine by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after acquiring an additional 181,032 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in Digital Turbine by 4.1% in the third quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker’s stock valued at $6,051,000 after purchasing an additional 77,185 shares in the last quarter. AQR Capital Management LLC grew its stake 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 purchasing an additional 755,707 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Digital Turbine during the 2nd quarter worth about $725,000. Finally, Brooktree Capital Management boosted its stake in shares of Digital Turbine by 7.4% during the 3rd quarter. Brooktree Capital Management now owns 365,621 shares of the software maker’s stock worth $1,122,000 after acquiring an additional 25,061 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on APPS shares. Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and cut their target price for the company from $3.50 to $1.00 in a report on Friday, November 15th. Craig Hallum reduced their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Macquarie cut their price target on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company 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.