Robert M. Deutschman Purchases 100,000 Shares of Digital Turbine, Inc. (NASDAQ:APPS) Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman acquired 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the acquisition, the director now directly owns 571,216 shares in the company, valued at approximately $805,414.56. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Digital Turbine Trading Down 2.5 %

Shares of APPS traded down $0.04 during trading hours on Tuesday, reaching $1.36. 5,698,278 shares of the company traded hands, compared to its average volume of 3,069,571. Digital Turbine, Inc. has a 12 month low of $1.31 and a 12 month high of $7.33. The company has a market capitalization of $141.07 million, a price-to-earnings ratio of -0.47, a price-to-earnings-growth ratio of 4.51 and a beta of 2.59. The company’s fifty day moving average price is $2.96 and its two-hundred day moving average price is $2.50. The company has a quick ratio of 1.05, a current ratio of 1.09 and a debt-to-equity ratio of 2.24.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 EPS 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 firm had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $125.85 million. During the same period in the prior year, the business posted $0.04 EPS. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. Equities research analysts predict that Digital Turbine, Inc. will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

APPS has been the subject of several research reports. Macquarie reduced their price objective on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Craig Hallum dropped their price objective on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPS. Jacobs Levy Equity Management Inc. purchased a new stake in Digital Turbine in the first quarter worth approximately $2,177,000. AQR Capital Management LLC boosted its position 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 worth $2,546,000 after purchasing an additional 755,707 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Digital Turbine during the 2nd quarter valued at about $725,000. Acadian Asset Management LLC bought a new stake in shares of Digital Turbine during the 2nd quarter valued at about $594,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Digital Turbine in the 2nd quarter worth approximately $589,000. 63.66% of the stock is owned by institutional investors.

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.