Sei Investments Co. Trims Holdings in Digital Turbine, Inc. (NASDAQ:APPS)

Sei Investments Co. lowered its holdings in Digital Turbine, Inc. (NASDAQ:APPS) by 20.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 30,798 shares of the software maker’s stock after selling 7,682 shares during the quarter. Sei Investments Co.’s holdings in Digital Turbine were worth $52,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in Digital Turbine by 48.7% in the fourth quarter. American Century Companies Inc. now owns 119,586 shares of the software maker’s stock valued at $202,000 after acquiring an additional 39,190 shares in the last quarter. Plancorp LLC bought a new stake in shares of Digital Turbine during the 4th quarter valued at about $35,000. Virtu Financial LLC bought a new stake in shares of Digital Turbine during the 4th quarter valued at about $336,000. Intech Investment Management LLC increased its position in shares of Digital Turbine by 58.7% during the fourth quarter. Intech Investment Management LLC now owns 43,204 shares of the software maker’s stock valued at $73,000 after buying an additional 15,977 shares during the period. Finally, Prescott Group Capital Management L.L.C. bought a new position in Digital Turbine in the fourth quarter worth about $372,000. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Stock Up 5.8 %

APPS stock opened at $2.74 on Friday. The business has a 50 day moving average of $3.64 and a 200 day moving average of $2.71. The firm has a market cap of $287.72 million, a PE ratio of -0.90 and a beta of 2.48. Digital Turbine, Inc. has a twelve month low of $1.18 and a twelve month high of $6.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. On average, research analysts forecast that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded Digital Turbine from a “hold” rating to a “sell” rating in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.38.

Digital Turbine 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.