Intech Investment Management LLC Increases Position in Digital Turbine, Inc. (NASDAQ:APPS)

Intech Investment Management LLC grew its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 58.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,204 shares of the software maker’s stock after purchasing an additional 15,977 shares during the period. Intech Investment Management LLC’s holdings in Digital Turbine were worth $73,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Digital Turbine by 719.6% during the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after buying an additional 340,512 shares during the last quarter. Acuitas Investments LLC bought a new position in shares of Digital Turbine during the fourth quarter valued at $140,000. Geode Capital Management LLC raised its position in shares of Digital Turbine by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after purchasing an additional 181,032 shares during the last quarter. Barclays PLC boosted its stake in Digital Turbine by 62.5% in the 3rd quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock worth $776,000 after purchasing an additional 97,196 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in Digital Turbine in the 3rd quarter worth about $185,000. 63.66% of the stock is owned by institutional investors.

Digital Turbine Trading Down 8.1 %

Shares of NASDAQ:APPS opened at $2.84 on Friday. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $6.86. The stock’s fifty day moving average price is $3.59 and its 200-day moving average price is $2.72. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $298.22 million, a P/E ratio of -0.94 and a beta of 2.43.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 EPS 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 expect that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of 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 given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.