AQR Capital Management LLC Raises Position in Digital Turbine, Inc. (NASDAQ:APPS)

AQR Capital Management LLC lifted its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 97.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,533,969 shares of the software maker’s stock after purchasing an additional 755,707 shares during the period. AQR Capital Management LLC owned 1.50% of Digital Turbine worth $2,546,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Digital Turbine by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 12,790,615 shares of the software maker’s stock valued at $87,744,000 after acquiring an additional 543,160 shares during the period. Greenhaven Road Investment Management L.P. grew its holdings in Digital Turbine by 244.9% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 1,940,020 shares of the software maker’s stock valued at $13,308,000 after buying an additional 1,377,587 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Digital Turbine in the first quarter worth $2,177,000. Baader Bank Aktiengesellschaft bought a new position in shares of Digital Turbine during the second quarter worth $725,000. Finally, Brooktree Capital Management grew its stake in Digital Turbine by 49.3% during the first quarter. Brooktree Capital Management now owns 390,339 shares of the software maker’s stock valued at $1,023,000 after acquiring an additional 128,857 shares in the last quarter. 63.66% of the stock is owned by institutional investors.

Digital Turbine Stock Down 0.7 %

Shares of APPS stock opened at $3.03 on Wednesday. The stock has a market cap of $310.60 million, a P/E ratio of -0.73 and a beta of 2.61. The company’s fifty day simple moving average is $2.99 and its two-hundred day simple moving average is $2.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.01. Digital Turbine, Inc. has a 52 week low of $1.39 and a 52 week high of $7.32.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Digital Turbine had a positive return on equity of 5.37% and a negative net margin of 84.71%. The business had revenue of $117.99 million for the quarter, compared to analysts’ expectations of $115.23 million. During the same period in the prior year, the firm earned $0.08 EPS. The company’s revenue for the quarter was down 19.4% on a year-over-year basis.

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.