Janney Montgomery Scott LLC boosted its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS – Free Report) by 23.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 177,849 shares of the software maker’s stock after acquiring an additional 33,755 shares during the quarter. Janney Montgomery Scott LLC owned about 0.17% of Digital Turbine worth $466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APPS. Vanguard Group Inc. increased its stake in Digital Turbine by 0.5% during the third quarter. Vanguard Group Inc. now owns 12,247,455 shares of the software maker’s stock worth $74,097,000 after acquiring an additional 64,412 shares during the last quarter. Blue Trust Inc. increased its stake in Digital Turbine by 87.6% during the fourth quarter. Blue Trust Inc. now owns 9,093 shares of the software maker’s stock worth $62,000 after acquiring an additional 4,245 shares during the last quarter. Perkins Capital Management Inc. acquired a new stake in Digital Turbine during the fourth quarter worth $1,277,000. Meeder Asset Management Inc. boosted its position in shares of Digital Turbine by 113.4% during the fourth quarter. Meeder Asset Management Inc. now owns 22,069 shares of the software maker’s stock worth $151,000 after buying an additional 11,725 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Digital Turbine during the fourth quarter worth $313,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APPS. Roth Mkm lowered their price target on Digital Turbine from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Wednesday, May 29th. StockNews.com upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Craig Hallum lowered their price target on Digital Turbine from $10.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.17.

Get Our Latest Research Report on Digital Turbine

Digital Turbine Trading Up 3.7 %

NASDAQ:APPS opened at $2.25 on Tuesday. The firm has a market cap of $230.83 million, a PE ratio of -0.54 and a beta of 2.50. The stock has a fifty day moving average price of $1.87 and a 200 day moving average price of $2.87. Digital Turbine, Inc. has a 12-month low of $1.39 and a 12-month high of $11.01. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.79.

Digital Turbine (NASDAQ:APPS – Get Free Report) last released its earnings results on Tuesday, May 28th. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. The firm had revenue of $112.22 million during the quarter, compared to analyst estimates of $118.30 million. Digital Turbine had a positive return on equity of 6.21% and a negative net margin of 77.18%.

About Digital Turbine

(Free Report)

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.

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