Insider Buying: Digital Turbine, Inc. (NASDAQ:APPS) Director Acquires $24,600.00 in Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average cost of $1.23 per share, with a total value of $24,600.00. Following the acquisition, the director now directly owns 591,216 shares of the company’s stock, valued at $727,195.68. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Digital Turbine Price Performance

Digital Turbine stock opened at $1.52 on Friday. The company’s 50 day simple moving average is $2.73 and its 200-day simple moving average is $2.46. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.33.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $125.85 million. During the same period in the previous year, the firm earned $0.04 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year.

Hedge Funds Weigh In On Digital Turbine

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings 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 worth $7,169,000 after buying an additional 181,032 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Digital Turbine by 4.1% during the third quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker’s stock worth $6,051,000 after acquiring an additional 77,185 shares during the period. AQR Capital Management LLC raised its stake in shares of 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 acquiring an additional 755,707 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Digital Turbine in the first quarter valued at $2,177,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Digital Turbine during the 2nd quarter worth $725,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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