Worth Venture Partners LLC Invests $74,000 in Digital Turbine, Inc. $APPS

Worth Venture Partners LLC bought a new stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,500 shares of the software maker’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Digital Turbine by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after buying an additional 2,449 shares during the period. Legal & General Group Plc grew its holdings in shares of Digital Turbine by 31.6% during the 2nd quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after acquiring an additional 2,550 shares during the period. Creative Planning raised its position in shares of Digital Turbine by 39.2% in the 2nd quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after acquiring an additional 5,991 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Digital Turbine by 5.3% in the 2nd quarter. Rhumbline Advisers now owns 154,950 shares of the software maker’s stock valued at $914,000 after purchasing an additional 7,749 shares during the period. Finally, Prudential Financial Inc. purchased a new position in shares of Digital Turbine in the 2nd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Trading Up 4.4%

NASDAQ APPS opened at $4.78 on Wednesday. Digital Turbine, Inc. has a 12 month low of $1.39 and a 12 month high of $8.28. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.66. The stock’s fifty day moving average price is $5.94 and its 200-day moving average price is $5.29. The stock has a market cap of $536.08 million, a P/E ratio of -6.55, a P/E/G ratio of 1.35 and a beta of 2.55.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. The company had revenue of $140.38 million for the quarter, compared to analysts’ expectations of $142.00 million. As a group, equities analysts forecast that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on APPS shares. Bank of America raised Digital Turbine from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $4.50 to $5.50 in a research note on Wednesday, August 6th. Zacks Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Craig Hallum reiterated a “buy” rating and issued a $10.00 price target on shares of Digital Turbine in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Turbine in a research report on Monday, November 17th. Finally, Wall Street Zen lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

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.