Traders Buy High Volume of Call Options on Digital Turbine (NASDAQ:APPS)

Digital Turbine, Inc. (NASDAQ:APPS) saw some unusual options trading activity on Thursday. Investors bought 6,084 call options on the stock. This represents an increase of approximately 182% compared to the typical volume of 2,157 call options.

Insider Activity

In related news, Director Robert M. Deutschman acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the acquisition, the director now owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. This represents a 21.22 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 127,000 shares of company stock worth $175,610 over the last quarter. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Digital Turbine

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Digital Turbine by 719.6% during the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after purchasing an additional 340,512 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Digital Turbine by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after acquiring an additional 181,032 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Digital Turbine by 97.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock worth $2,546,000 after acquiring an additional 755,707 shares during the last quarter. Barclays PLC lifted its holdings in shares of Digital Turbine by 62.5% in the 3rd quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock worth $776,000 after acquiring an additional 97,196 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Digital Turbine by 80.9% in the 3rd quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker’s stock worth $154,000 after acquiring an additional 22,385 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Price Performance

APPS opened at $4.99 on Friday. The company has a market capitalization of $517.59 million, a price-to-earnings ratio of -1.69 and a beta of 2.38. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24. The firm has a 50-day moving average price of $1.87 and a 200-day moving average price of $2.44. Digital Turbine has a twelve month low of $1.18 and a twelve month high of $5.34.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. Equities analysts expect that Digital Turbine will post -0.13 EPS for the current year.

Analysts Set New Price Targets

APPS has been the subject of a number of research analyst reports. Craig Hallum decreased their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Macquarie reduced their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. 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’s stock. According to data from MarketBeat.com, Digital Turbine has a consensus rating of “Hold” and an average target price of $2.38.

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.