Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) Director Michelle M. Sterling bought 7,000 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were acquired at an average cost of $1.43 per share, for a total transaction of $10,010.00. Following the purchase, the director now directly owns 24,640 shares in the company, valued at $35,235.20. This represents a 39.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Digital Turbine Trading Up 0.7 %
Shares of APPS stock opened at $1.45 on Tuesday. The stock has a 50-day simple moving average of $2.53 and a 200 day simple moving average of $2.42. The stock has a market capitalization of $150.41 million, a P/E ratio of -0.49 and a beta of 2.59. Digital Turbine, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $7.33. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24.
Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The business had revenue of $118.70 million for the quarter, compared to the consensus estimate of $125.85 million. During the same quarter last year, the business posted $0.04 EPS. The business's revenue for the quarter was down 17.1% on a year-over-year basis. On average, sell-side analysts expect that Digital Turbine, Inc. will post -0.13 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
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Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker's stock valued at $25,000 after acquiring an additional 4,167 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Digital Turbine during the first quarter valued at $28,000. Ballentine Partners LLC acquired a new position in shares of Digital Turbine in the 3rd quarter valued at $43,000. SG Americas Securities LLC purchased a new position in Digital Turbine in the 2nd quarter worth about $46,000. Finally, Creative Planning acquired a new stake in Digital Turbine during the 3rd quarter worth about $57,000. Institutional investors and hedge funds own 63.66% of the company's stock.
Analyst Ratings Changes
APPS has been the topic of a number of recent analyst reports. Bank of America cut shares of Digital Turbine from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $3.50 to $1.00 in a research note on Friday, November 15th. Macquarie reduced their price target 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, Craig Hallum decreased their price objective 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Digital Turbine currently has a consensus rating of "Hold" and a consensus target price of $2.38.
Read Our Latest Stock Report on APPS
Digital Turbine Company Profile
(
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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.
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