Comerica Bank Has $979,000 Stake in Digital Turbine, Inc. (NASDAQ:APPS)

Comerica Bank lessened its holdings in Digital Turbine, Inc. (NASDAQ:APPSGet Rating) by 10.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,732 shares of the software maker’s stock after selling 7,990 shares during the period. Comerica Bank owned approximately 0.07% of Digital Turbine worth $979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Maryland State Retirement & Pension System boosted its stake in shares of Digital Turbine by 3.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 36,782 shares of the software maker’s stock worth $530,000 after buying an additional 1,144 shares during the last quarter. Money Concepts Capital Corp boosted its stake in shares of Digital Turbine by 5,650.0% in the 3rd quarter. Money Concepts Capital Corp now owns 3,680 shares of the software maker’s stock worth $53,000 after buying an additional 3,616 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Digital Turbine by 35.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,517 shares of the software maker’s stock worth $122,000 after buying an additional 2,207 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Digital Turbine in the 3rd quarter worth approximately $8,731,000. Finally, Wipfli Financial Advisors LLC purchased a new position in shares of Digital Turbine in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

Digital Turbine Trading Down 1.7 %

Shares of APPS stock opened at $16.40 on Wednesday. The company’s fifty day simple moving average is $16.12 and its two-hundred day simple moving average is $17.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 1.17. Digital Turbine, Inc. has a 1 year low of $10.65 and a 1 year high of $55.68. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 0.97 and a beta of 2.38.

Digital Turbine (NASDAQ:APPSGet Rating) last issued its earnings results on Wednesday, November 9th. The software maker reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Digital Turbine had a net margin of 5.82% and a return on equity of 26.56%. The business had revenue of $174.86 million for the quarter, compared to analysts’ expectations of $173.67 million. As a group, analysts anticipate that Digital Turbine, Inc. will post 1.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on APPS shares. Roth Capital cut their target price on Digital Turbine from $32.00 to $20.00 in a research note on Monday, October 31st. StockNews.com upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. Oppenheimer dropped their price objective on Digital Turbine from $32.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 4th. Craig Hallum dropped their price objective on Digital Turbine from $60.00 to $30.00 in a research note on Thursday, November 10th. Finally, B. Riley dropped their price objective on Digital Turbine from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.83.

Digital Turbine Company Profile

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).

Further Reading

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

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