Gagnon Securities LLC Has $176,000 Position in Digital Turbine, Inc. (NASDAQ:APPS)

Gagnon Securities LLC lifted its position in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 99.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,123 shares of the software maker’s stock after buying an additional 51,814 shares during the period. Gagnon Securities LLC owned about 0.10% of Digital Turbine worth $176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of APPS. American Century Companies Inc. boosted its position in shares of Digital Turbine by 15.1% during the second quarter. American Century Companies Inc. now owns 58,781 shares of the software maker’s stock worth $98,000 after buying an additional 7,725 shares during the period. AQR Capital Management LLC boosted its position in shares of Digital Turbine by 97.1% during the second quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock worth $2,546,000 after buying an additional 755,707 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Digital Turbine by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after acquiring an additional 3,695 shares in the last quarter. SG Americas Securities LLC raised its holdings in Digital Turbine by 80.9% during the third quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker’s stock worth $154,000 after acquiring an additional 22,385 shares in the last quarter. Finally, Creative Planning bought a new stake in Digital Turbine during the third quarter worth about $57,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on APPS shares. Macquarie dropped their target price on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Craig Hallum dropped their target price on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $3.50 to $1.00 in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.38.

Insider Transactions at Digital Turbine

In other news, Director Robert M. Deutschman bought 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were bought at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the purchase, the director now owns 571,216 shares in the company, valued at approximately $805,414.56. This trade represents a 21.22 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have bought 127,000 shares of company stock worth $175,610. Company insiders own 5.80% of the company’s stock.

Digital Turbine Stock Performance

NASDAQ:APPS opened at $2.62 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50 day moving average price is $1.81 and its two-hundred day moving average price is $2.44. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $5.79.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $118.70 million during the quarter, compared to the consensus estimate of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. Digital Turbine’s quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. On average, equities research analysts predict that Digital Turbine, Inc. will post -0.13 EPS for the current year.

About Digital Turbine

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.