GAMMA Investing LLC Invests $43,000 in Digital Turbine, Inc. (NASDAQ:APPS)

GAMMA Investing LLC bought a new stake in Digital Turbine, Inc. (NASDAQ:APPS) in the fourth quarter, HoldingsChannel reports. The fund bought 6,236 shares of the software maker’s stock, valued at approximately $43,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of Digital Turbine by 153.8% in the third quarter. SG Americas Securities LLC now owns 73,019 shares of the software maker’s stock valued at $442,000 after acquiring an additional 44,248 shares during the period. Commonwealth Equity Services LLC boosted its stake in Digital Turbine by 13.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 37,510 shares of the software maker’s stock worth $227,000 after purchasing an additional 4,415 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Digital Turbine by 70.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,792 shares of the software maker’s stock worth $102,000 after purchasing an additional 6,914 shares during the period. Assenagon Asset Management S.A. acquired a new position in Digital Turbine in the third quarter valued at $3,557,000. Finally, Brooktree Capital Management increased its stake in Digital Turbine by 39.4% in the third quarter. Brooktree Capital Management now owns 332,736 shares of the software maker’s stock valued at $2,013,000 after purchasing an additional 93,964 shares during the period. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on APPS shares. Craig Hallum lowered their price target on Digital Turbine from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. StockNews.com upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Roth Mkm cut their price target on Digital Turbine from $5.50 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Digital Turbine presently has a consensus rating of “Hold” and an average price target of $7.50.

Digital Turbine Trading Up 2.0 %

NASDAQ APPS opened at $2.06 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $210.16 million, a P/E ratio of -1.05, a P/E/G ratio of 4.77 and a beta of 2.54. Digital Turbine, Inc. has a 52-week low of $1.78 and a 52-week high of $14.61. The firm has a 50-day moving average price of $2.47 and a 200 day moving average price of $4.37.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $142.63 million for the quarter, compared to analyst estimates of $146.45 million. Digital Turbine had a positive return on equity of 4.48% and a negative net margin of 34.53%. Equities research analysts expect that Digital Turbine, Inc. will post 0.16 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.