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

Gagnon Securities LLC raised its holdings in Digital Turbine, Inc. (NASDAQ:APPS) by 99.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,123 shares of the software maker’s stock after purchasing an additional 51,814 shares during the quarter. Gagnon Securities LLC’s holdings in Digital Turbine were worth $176,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of Digital Turbine by 104.1% in the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after acquiring an additional 4,167 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Digital Turbine in the 3rd quarter valued at $43,000. Creative Planning bought a new position in shares of Digital Turbine in the 3rd quarter valued at $57,000. The Manufacturers Life Insurance Company lifted its stake in shares of Digital Turbine by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock valued at $68,000 after acquiring an additional 3,695 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Digital Turbine by 37.7% in the 3rd quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock valued at $82,000 after acquiring an additional 7,266 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Price Performance

Shares of NASDAQ:APPS opened at $2.62 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $5.79. The business has a fifty day simple moving average of $1.81 and a 200 day simple moving average of $2.44.

Digital Turbine (NASDAQ:APPS) last announced its earnings results 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). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The company had revenue of $118.70 million for the quarter, compared to the consensus estimate of $125.85 million. During the same period in the prior year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, equities research analysts predict that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APPS has been the subject of a number of research reports. Macquarie dropped their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $3.50 to $1.00 in a research note on Friday, November 15th. Finally, Craig Hallum lowered their target price on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.38.

Insider Transactions at Digital Turbine

In other Digital Turbine news, Director Robert M. Deutschman acquired 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $1.41 per share, with a total value of $141,000.00. Following the transaction, the director now owns 571,216 shares in the company, valued at approximately $805,414.56. The trade was a 21.22 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders acquired 127,000 shares of company stock valued at $175,610. Corporate insiders own 5.80% of the company’s stock.

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.