Rice Hall James & Associates LLC Sells 87,100 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Rice Hall James & Associates LLC decreased its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,893,743 shares of the software maker’s stock after selling 87,100 shares during the period. Rice Hall James & Associates LLC owned 1.85% of Digital Turbine worth $3,144,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of APPS. Acadian Asset Management LLC acquired a new stake in Digital Turbine in the 2nd quarter valued at about $594,000. Los Angeles Capital Management LLC lifted its stake in Digital Turbine by 35.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 157,730 shares of the software maker’s stock valued at $262,000 after purchasing an additional 40,914 shares during the last quarter. Rhumbline Advisers lifted its stake in Digital Turbine by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock valued at $254,000 after purchasing an additional 5,734 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Digital Turbine in the 2nd quarter valued at about $589,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Digital Turbine in the 2nd quarter valued at about $725,000. Institutional investors own 63.66% of the company’s stock.

Digital Turbine Trading Up 1.5 %

Shares of APPS stock opened at $2.76 on Thursday. The firm has a 50 day moving average price of $2.68 and a two-hundred day moving average price of $2.37. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $283.67 million, a PE ratio of -0.67 and a beta of 2.60. Digital Turbine, Inc. has a 12-month low of $1.39 and a 12-month high of $7.32.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Craig Hallum cut their target price on shares of Digital Turbine from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Roth Mkm cut their target price on shares of Digital Turbine from $3.00 to $2.50 and set a “neutral” rating for the company in a research note on Wednesday, May 29th.

Digital Turbine 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.