Walleye Capital LLC Invests $2.15 Million in Digital Turbine, Inc. (NASDAQ:APPS)

Walleye Capital LLC bought a new position in shares of Digital Turbine, Inc. (NASDAQ:APPSGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,133 shares of the software maker’s stock, valued at approximately $2,153,000.

A number of other large investors have also modified their holdings of the business. Capital Research Global Investors raised its stake in shares of Digital Turbine by 41.7% during the 1st quarter. Capital Research Global Investors now owns 1,254,733 shares of the software maker’s stock worth $54,970,000 after buying an additional 368,982 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of Digital Turbine by 220.0% during the 1st quarter. Gabelli Funds LLC now owns 16,000 shares of the software maker’s stock worth $701,000 after buying an additional 11,000 shares in the last quarter. Baader Bank INC purchased a new position in shares of Digital Turbine during the 1st quarter worth approximately $4,819,000. Gamco Investors INC. ET AL raised its stake in shares of Digital Turbine by 18.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 13,700 shares of the software maker’s stock worth $600,000 after buying an additional 2,135 shares in the last quarter. Finally, Worth Venture Partners LLC raised its stake in shares of Digital Turbine by 17.2% during the 1st quarter. Worth Venture Partners LLC now owns 19,361 shares of the software maker’s stock worth $848,000 after buying an additional 2,837 shares in the last quarter. 65.70% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Stock Performance

Digital Turbine stock opened at $16.48 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a fifty day moving average of $19.96 and a two-hundred day moving average of $26.41. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 1.47 and a beta of 2.41. Digital Turbine, Inc. has a fifty-two week low of $14.43 and a fifty-two week high of $93.98.

Digital Turbine (NASDAQ:APPSGet Rating) last released its quarterly earnings results on Monday, August 8th. The software maker reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Digital Turbine had a return on equity of 29.78% and a net margin of 3.42%. The company had revenue of $188.63 million during the quarter, compared to the consensus estimate of $184.68 million. On average, analysts anticipate that Digital Turbine, Inc. will post 1.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APPS has been the subject of several research analyst reports. StockNews.com raised Digital Turbine from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. B. Riley raised their price objective on Digital Turbine from $29.00 to $33.00 in a research note on Tuesday, August 9th. Oppenheimer dropped their price objective on Digital Turbine from $117.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, June 1st. Macquarie dropped their price objective on Digital Turbine from $70.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, June 1st. Finally, Craig Hallum dropped their price objective on Digital Turbine to $60.00 in a research note on Monday, August 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Digital Turbine presently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

About Digital Turbine

(Get Rating)

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 three segments: On Device Media, In App Media – AdColony, and In App Media – Fyber. 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 sponsored and editorial content media.

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Institutional Ownership by Quarter for Digital Turbine (NASDAQ:APPS)

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