Alliancebernstein L.P. Trims Stock Holdings in Digital Turbine, Inc. (NASDAQ:APPS)

Alliancebernstein L.P. lessened its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,980 shares of the software maker’s stock after selling 21,690 shares during the quarter. Alliancebernstein L.P. owned 0.15% of Digital Turbine worth $265,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of APPS. SBI Securities Co. Ltd. acquired a new position in shares of Digital Turbine in the 4th quarter worth approximately $28,000. Plancorp LLC acquired a new stake in Digital Turbine in the 4th quarter valued at approximately $35,000. Ieq Capital LLC purchased a new stake in Digital Turbine in the fourth quarter valued at approximately $55,000. Oppenheimer & Co. Inc. boosted its position in shares of Digital Turbine by 28.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker’s stock worth $64,000 after buying an additional 8,426 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of Digital Turbine by 58.7% in 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 in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Trading Down 6.4 %

NASDAQ:APPS opened at $2.92 on Tuesday. The stock has a fifty day moving average price of $3.40 and a 200 day moving average price of $2.71. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $6.86. The firm has a market cap of $306.62 million, a PE ratio of -0.96 and a beta of 2.48.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut 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 assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.