Intech Investment Management LLC Invests $84,000 in Digital Turbine, Inc. (NASDAQ:APPS)

Intech Investment Management LLC bought a new stake in Digital Turbine, Inc. (NASDAQ:APPS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,227 shares of the software maker’s stock, valued at approximately $84,000.

Several other institutional investors have also recently added to or reduced their stakes in APPS. Blue Trust Inc. grew its stake in shares of Digital Turbine by 104.1% in the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after buying an additional 4,167 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Digital Turbine during the third quarter worth about $43,000. SG Americas Securities LLC purchased a new position in shares of Digital Turbine in the second quarter valued at approximately $46,000. Creative Planning acquired a new stake in shares of Digital Turbine in the third quarter valued at $57,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Digital Turbine by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock valued at $68,000 after purchasing an additional 3,695 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert M. Deutschman acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $1.41 per share, with a total value of $141,000.00. Following the purchase, the director now directly owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. This trade represents a 21.22 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have purchased 127,000 shares of company stock valued at $175,610. Corporate insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on APPS. Macquarie cut their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. Finally, Craig Hallum cut their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Stock Performance

Shares of APPS opened at $1.50 on Monday. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.33. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average is $2.41 and its two-hundred day moving average is $2.40. The stock has a market capitalization of $155.59 million, a P/E ratio of -0.51 and a beta of 2.37.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $118.70 million for the quarter, compared to analyst estimates of $125.85 million. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The company’s revenue was down 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 EPS. On average, sell-side analysts predict that Digital Turbine, Inc. will post -0.13 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.