Creative Planning Purchases New Position in Digital Turbine, Inc. (NASDAQ:APPS)

Creative Planning acquired a new position in Digital Turbine, Inc. (NASDAQ:APPS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,411 shares of the software maker’s stock, valued at approximately $57,000.

Several other hedge funds have also modified their holdings of APPS. AQR Capital Management LLC increased its position in Digital Turbine by 97.1% in the second quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock worth $2,546,000 after purchasing an additional 755,707 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Digital Turbine during the 1st quarter valued at about $2,177,000. Baader Bank Aktiengesellschaft bought a new position in shares of Digital Turbine in the 2nd quarter valued at about $725,000. Acadian Asset Management LLC bought a new position in shares of Digital Turbine in the 2nd quarter valued at about $594,000. Finally, Assenagon Asset Management S.A. purchased a new position in Digital Turbine in the second quarter worth about $589,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Macquarie lowered their price objective on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Craig Hallum lowered their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th.

Insider Activity

In other Digital Turbine news, Director Robert M. Deutschman acquired 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $1.41 per share, with a total value of $141,000.00. Following the completion of the purchase, the director now directly owns 571,216 shares in the company, valued at $805,414.56. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.80% of the company’s stock.

Digital Turbine Price Performance

Shares of APPS stock opened at $1.36 on Wednesday. The company has a market capitalization of $141.07 million, a P/E ratio of -0.46, a P/E/G ratio of 4.51 and a beta of 2.59. The company’s 50-day simple moving average is $2.93 and its two-hundred day simple moving average is $2.50. Digital Turbine, Inc. has a one year low of $1.31 and a one year high of $7.33. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.05.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $118.70 million during the quarter, compared to the consensus estimate of $125.85 million. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. As a group, equities analysts anticipate that Digital Turbine, Inc. will post 0.05 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.