The Manufacturers Life Insurance Company Purchases 3,695 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

The Manufacturers Life Insurance Company increased its position in Digital Turbine, Inc. (NASDAQ:APPS) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,135 shares of the software maker’s stock after acquiring an additional 3,695 shares during the period. The Manufacturers Life Insurance Company’s holdings in Digital Turbine were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APPS. Jacobs Levy Equity Management Inc. bought a new stake in shares of Digital Turbine in the 1st quarter worth $2,177,000. AQR Capital Management LLC lifted its stake in Digital Turbine by 97.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock valued at $2,546,000 after acquiring an additional 755,707 shares during the period. Vanguard Group Inc. boosted its holdings 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 last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of Digital Turbine during the 2nd quarter valued at about $725,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Digital Turbine in the second quarter worth approximately $594,000. 63.66% of the stock is owned by institutional investors.

Digital Turbine Stock Down 4.2 %

APPS opened at $3.17 on Tuesday. The stock has a market capitalization of $324.95 million, a price-to-earnings ratio of -0.76, a PEG ratio of 9.68 and a beta of 2.61. The firm has a 50 day moving average price of $3.17 and a 200-day moving average price of $2.40. Digital Turbine, Inc. has a twelve month low of $1.39 and a twelve month high of $7.32. 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 (NASDAQ:APPS) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.07 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 company had revenue of $117.99 million during the quarter, compared to analyst estimates of $115.23 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Digital Turbine’s revenue was down 19.4% compared to the same quarter last year. Equities research analysts forecast that Digital Turbine, Inc. will post 0.05 earnings per share 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.