Acadian Asset Management LLC Purchases New Stake in Digital Turbine, Inc. (NASDAQ:APPS)

Acadian Asset Management LLC acquired a new stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) during the second quarter, Holdings Channel.com reports. The fund acquired 359,097 shares of the software maker’s stock, valued at approximately $594,000.

A number of other hedge funds also recently made changes to their positions in APPS. Victory Capital Management Inc. raised its stake in shares of Digital Turbine by 25.8% during the fourth quarter. Victory Capital Management Inc. now owns 19,530 shares of the software maker’s stock valued at $134,000 after purchasing an additional 4,003 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Digital Turbine by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 780,252 shares of the software maker’s stock valued at $5,353,000 after purchasing an additional 60,539 shares during the period. Jump Financial LLC raised its stake in shares of Digital Turbine by 119.1% during the fourth quarter. Jump Financial LLC now owns 47,936 shares of the software maker’s stock valued at $329,000 after purchasing an additional 26,055 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Digital Turbine during the fourth quarter valued at approximately $988,000. Finally, Trexquant Investment LP purchased a new stake in shares of Digital Turbine during the fourth quarter valued at approximately $1,042,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Analyst Upgrades and Downgrades

APPS has been the topic of a number of analyst reports. Craig Hallum dropped their price objective on shares of Digital Turbine from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Roth Mkm decreased their price target on shares of Digital Turbine from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Wednesday, May 29th.

Digital Turbine Stock Down 1.7 %

APPS stock opened at $2.87 on Wednesday. Digital Turbine, Inc. has a twelve month low of $1.39 and a twelve month high of $7.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $294.20 million, a P/E ratio of -0.69 and a beta of 2.60. The firm has a 50 day simple moving average of $2.79 and a 200-day simple moving average of $2.35.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Digital Turbine had a negative net margin of 84.71% and a positive return on equity of 5.37%. The business had revenue of $117.99 million during the quarter, compared to the consensus estimate of $115.23 million. During the same quarter last year, the company earned $0.08 earnings per share. The business’s quarterly revenue was down 19.4% compared to the same quarter last year.

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.