56,500 Shares in Digital Turbine, Inc. $APPS Bought by Versor Investments LP

Versor Investments LP acquired a new position in Digital Turbine, Inc. (NASDAQ:APPS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 56,500 shares of the software maker’s stock, valued at approximately $333,000. Versor Investments LP owned approximately 0.05% of Digital Turbine as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in APPS. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Digital Turbine in the first quarter worth $90,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Digital Turbine in the first quarter worth $128,000. Cerity Partners LLC purchased a new stake in shares of Digital Turbine in the first quarter worth $70,000. CWM LLC raised its position in shares of Digital Turbine by 532.2% in the first quarter. CWM LLC now owns 42,570 shares of the software maker’s stock worth $116,000 after buying an additional 35,836 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Digital Turbine in the first quarter worth $2,710,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on APPS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a research report on Wednesday, October 8th. Craig Hallum restated a “buy” rating and set a $10.00 price target on shares of Digital Turbine in a research report on Wednesday. Bank of America upgraded Digital Turbine from an “underperform” rating to a “neutral” rating and raised their price target for the company from $4.50 to $5.50 in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Digital Turbine from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Digital Turbine presently has an average rating of “Hold” and a consensus price target of $5.83.

Digital Turbine Stock Up 23.1%

APPS opened at $7.29 on Thursday. The company has a market cap of $814.67 million, a P/E ratio of -9.99, a P/E/G ratio of 3.78 and a beta of 2.55. The business’s 50-day moving average price is $5.76 and its 200-day moving average price is $5.10. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.63. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $8.28.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, August 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). The company had revenue of $130.93 million during the quarter, compared to analysts’ expectations of $121.94 million. Digital Turbine had a positive return on equity of 11.95% and a negative net margin of 14.59%. On average, equities analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current year.

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.