Insider Buying: Digital Turbine, Inc. (NASDAQ:APPS) Director Acquires 100,000 Shares of Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman purchased 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $1.41 per share, with a total value of $141,000.00. Following the completion of the purchase, the director now directly owns 571,216 shares in the company, valued at approximately $805,414.56. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Digital Turbine Stock Performance

NASDAQ APPS opened at $1.36 on Wednesday. Digital Turbine, Inc. has a 12 month low of $1.31 and a 12 month high of $7.33. The stock has a 50 day moving average of $2.93 and a 200-day moving average of $2.50. 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 (NASDAQ:APPS) last announced its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $118.70 million during the quarter, compared to analyst estimates of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The business’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. As a group, equities analysts expect that Digital Turbine, Inc. will post 0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on APPS shares. Macquarie decreased their target price 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. Craig Hallum decreased their price objective on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th.

Hedge Funds Weigh In On Digital Turbine

A number of institutional investors have recently bought and sold shares of APPS. The Manufacturers Life Insurance Company lifted its position in shares of Digital Turbine by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock valued at $68,000 after buying an additional 3,695 shares during the last quarter. Blue Trust Inc. lifted its holdings in Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after purchasing an additional 4,167 shares during the last quarter. Rhumbline Advisers boosted its position in Digital Turbine by 3.9% during the second quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock worth $254,000 after purchasing an additional 5,734 shares during the period. Point72 DIFC Ltd increased its holdings in shares of Digital Turbine by 18.4% in the second quarter. Point72 DIFC Ltd now owns 44,603 shares of the software maker’s stock valued at $74,000 after purchasing an additional 6,936 shares during the last quarter. Finally, US Bancorp DE raised its position 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 valued at $82,000 after purchasing an additional 7,266 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.