Louisiana State Employees Retirement System Acquires Shares of 45,600 Digital Turbine, Inc. (NASDAQ:APPS)

Louisiana State Employees Retirement System bought a new position in shares of Digital Turbine, Inc. (NASDAQ:APPS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 45,600 shares of the software maker’s stock, valued at approximately $313,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. raised its holdings in Digital Turbine by 87.6% in the 4th quarter. Blue Trust Inc. now owns 9,093 shares of the software maker’s stock valued at $62,000 after acquiring an additional 4,245 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Digital Turbine by 194.3% in the third quarter. PNC Financial Services Group Inc. now owns 10,725 shares of the software maker’s stock valued at $65,000 after purchasing an additional 7,081 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Digital Turbine by 70.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,792 shares of the software maker’s stock worth $102,000 after buying an additional 6,914 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Digital Turbine by 113.4% during the fourth quarter. Meeder Asset Management Inc. now owns 22,069 shares of the software maker’s stock worth $151,000 after buying an additional 11,725 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Digital Turbine during the third quarter worth $160,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on APPS shares. Roth Mkm reduced their price target on Digital Turbine from $5.50 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, February 8th. StockNews.com raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Craig Hallum dropped their price target on shares of Digital Turbine from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Digital Turbine currently has an average rating of “Hold” and an average price target of $7.50.

Digital Turbine Stock Up 1.6 %

Shares of NASDAQ:APPS opened at $1.94 on Thursday. The company has a market capitalization of $197.92 million, a price-to-earnings ratio of -0.98, a PEG ratio of 4.82 and a beta of 2.48. Digital Turbine, Inc. has a 12-month low of $1.78 and a 12-month high of $14.61. The business has a 50-day moving average price of $2.51 and a 200 day moving average price of $4.41. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.84.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Digital Turbine had a negative net margin of 34.53% and a positive return on equity of 4.48%. The company had revenue of $142.63 million for the quarter, compared to analyst estimates of $146.45 million. Sell-side analysts expect that Digital Turbine, Inc. will post 0.16 EPS for the current year.

About Digital Turbine

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.