Los Angeles Capital Management LLC increased its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS – Free Report) by 35.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,730 shares of the software maker’s stock after buying an additional 40,914 shares during the period. Los Angeles Capital Management LLC owned 0.15% of Digital Turbine worth $262,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in Digital Turbine by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock worth $254,000 after buying an additional 5,734 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Digital Turbine during the 2nd quarter worth about $589,000. Baader Bank Aktiengesellschaft acquired a new position in Digital Turbine during the 2nd quarter worth about $725,000. SG Americas Securities LLC acquired a new position in Digital Turbine during the 2nd quarter worth about $46,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Digital Turbine during the 1st quarter worth about $2,177,000. Institutional investors and hedge funds own 63.66% of the company’s stock.
Digital Turbine Stock Performance
Shares of NASDAQ:APPS opened at $2.94 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $302.17 million, a P/E ratio of -0.71 and a beta of 2.60. The business has a 50-day moving average price of $2.75 and a two-hundred day moving average price of $2.36. Digital Turbine, Inc. has a 1-year low of $1.39 and a 1-year high of $7.32.
Wall Street Analyst Weigh In
Several brokerages have weighed in on APPS. Roth Mkm dropped their price objective on Digital Turbine from $3.00 to $2.50 and set a “neutral” rating for the company in a report on Wednesday, May 29th. Craig Hallum dropped their price objective on Digital Turbine from $10.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, May 29th.
Read Our Latest Report on Digital Turbine
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.
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