Insider Buying: Digital Turbine, Inc. (NASDAQ:APPS) Director Purchases 7,000 Shares of Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Michelle M. Sterling bought 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $1.43 per share, for a total transaction of $10,010.00. Following the completion of the purchase, the director now owns 24,640 shares of the company’s stock, valued at $35,235.20. This represents a 39.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Digital Turbine Stock Performance

Shares of NASDAQ APPS traded up $0.01 during midday trading on Monday, hitting $1.45. 2,161,749 shares of the company’s stock traded hands, compared to its average volume of 3,117,181. 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 $150.41 million, a price-to-earnings ratio of -0.49 and a beta of 2.59. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.33. The firm has a fifty day moving average of $2.55 and a 200 day moving average of $2.43.

Digital Turbine (NASDAQ:APPS) last posted its earnings results 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 company had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $125.85 million. During the same period in the previous year, the business posted $0.04 earnings per share. The business’s revenue was down 17.1% on a year-over-year basis. On average, analysts forecast that Digital Turbine, Inc. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Digital Turbine by 104.1% in the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after purchasing an additional 4,167 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Digital Turbine in the 1st quarter worth approximately $28,000. Ballentine Partners LLC purchased a new stake in Digital Turbine during the 3rd quarter worth approximately $43,000. Creative Planning acquired a new position in Digital Turbine during the 3rd quarter valued at approximately $57,000. Finally, US Bancorp DE raised its holdings in shares of Digital Turbine by 37.7% in the third quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock worth $82,000 after buying an additional 7,266 shares during the last quarter. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APPS has been the subject of several recent research reports. Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. Macquarie lowered their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Craig Hallum reduced their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.