GSA Capital Partners LLP Sells 512,885 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

GSA Capital Partners LLP cut its position in Digital Turbine, Inc. (NASDAQ:APPS) by 65.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 272,774 shares of the software maker’s stock after selling 512,885 shares during the quarter. GSA Capital Partners LLP owned approximately 0.27% of Digital Turbine worth $837,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of APPS. Rice Hall James & Associates LLC raised its stake in shares of Digital Turbine by 4.1% during the 3rd 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 in the last quarter. AQR Capital Management LLC increased its position in shares of Digital Turbine by 97.1% during 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 in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Digital Turbine during the first quarter worth $2,177,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Digital Turbine during the 2nd quarter valued at $725,000. Finally, Acadian Asset Management LLC purchased a new position in Digital Turbine during the 2nd quarter worth $594,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on APPS shares. Craig Hallum decreased their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Macquarie decreased their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price target for the company from $3.50 to $1.00 in a research note on Friday. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.38.

Digital Turbine Price Performance

Shares of NASDAQ APPS opened at $1.31 on Friday. Digital Turbine, Inc. has a 52 week low of $1.29 and a 52 week high of $7.33. The business’s 50 day moving average price is $2.84 and its 200 day moving average price is $2.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24. The firm has a market cap of $135.89 million, a P/E ratio of -0.44, a P/E/G ratio of 4.61 and a beta of 2.59.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The business had revenue of $118.70 million during the quarter, compared to analyst estimates of $125.85 million. During the same quarter in the previous year, the company earned $0.04 EPS. The firm’s revenue was down 17.1% compared to the same quarter last year. On average, sell-side analysts expect that Digital Turbine, Inc. will post 0.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert M. Deutschman acquired 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $1.41 per share, with a total value of $141,000.00. Following the purchase, the director now directly owns 571,216 shares of the company’s stock, valued at $805,414.56. This trade represents a 21.22 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.80% of the stock is owned by insiders.

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.