XTX Topco Ltd Boosts Stock Holdings in Digital Turbine, Inc. (NASDAQ:APPS)

XTX Topco Ltd lifted its position in Digital Turbine, Inc. (NASDAQ:APPS) by 33.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,868 shares of the software maker’s stock after purchasing an additional 42,954 shares during the period. XTX Topco Ltd’s holdings in Digital Turbine were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Digital Turbine by 104.1% in the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after buying an additional 4,167 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Digital Turbine in the 3rd quarter valued at about $43,000. SG Americas Securities LLC acquired a new position in Digital Turbine in the 2nd quarter worth about $46,000. Creative Planning purchased a new position in Digital Turbine during the third quarter worth approximately $57,000. Finally, The Manufacturers Life Insurance Company boosted its position in Digital Turbine by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after purchasing an additional 3,695 shares in the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APPS. Craig Hallum cut 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. Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Macquarie decreased their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.38.

Digital Turbine Stock Performance

NASDAQ APPS opened at $1.43 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09. The stock’s 50 day simple moving average is $2.28 and its 200-day simple moving average is $2.37. The company has a market cap of $148.33 million, a PE ratio of -0.48 and a beta of 2.37. 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 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 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 quarter in the previous year, the business posted $0.04 EPS. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, equities research analysts anticipate that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.

Insider Transactions at Digital Turbine

In related news, Director Robert M. Deutschman purchased 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the transaction, the director now directly owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. This trade represents a 21.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have acquired 127,000 shares of company stock valued at $175,610. Corporate insiders own 5.80% of the company’s stock.

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.