Essex Investment Management Co. LLC Invests $665,000 in Digital Turbine, Inc. (APPS) Stock
Essex Investment Management Co. LLC purchased a new stake in Digital Turbine, Inc. (NASDAQ:APPS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 440,447 shares of the software maker’s stock, valued at approximately $665,000. Essex Investment Management Co. LLC owned approximately 0.66% of Digital Turbine at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. P.A.W. Capital Corp raised its position in Digital Turbine by 5.0% in the 3rd quarter. P.A.W. Capital Corp now owns 840,000 shares of the software maker’s stock valued at $1,268,000 after purchasing an additional 40,000 shares during the last quarter. Trellus Management Company LLC raised its position in Digital Turbine by 16.8% in the 3rd quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock valued at $1,058,000 after purchasing an additional 100,689 shares during the last quarter. White Pine Capital LLC raised its position in Digital Turbine by 23.2% in the 2nd quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock valued at $747,000 after purchasing an additional 136,800 shares during the last quarter. Unterberg Capital LLC bought a new position in Digital Turbine in the 2nd quarter valued at $412,000. Finally, Carleon Capital Partners LLC bought a new position in Digital Turbine in the 2nd quarter valued at $2,673,000. Hedge funds and other institutional investors own 16.11% of the company’s stock.
Several equities analysts have issued reports on the company. B. Riley reiterated a “buy” rating and issued a $1.40 price objective on shares of Digital Turbine in a research report on Monday, August 14th. ValuEngine upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Roth Capital set a $1.00 price objective on Digital Turbine and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded Digital Turbine from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $1.43.
In other news, CEO William Gordon Stone III bought 126,400 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $1.12 per share, for a total transaction of $141,568.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.80% of the company’s stock.
Shares of Digital Turbine, Inc. (APPS) opened at $1.58 on Friday. Digital Turbine, Inc. has a 52-week low of $0.59 and a 52-week high of $1.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25.
Digital Turbine (NASDAQ:APPS) last released its earnings results on Monday, August 7th. The software maker reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The company had revenue of $26.10 million during the quarter, compared to the consensus estimate of $24.46 million. Digital Turbine had a negative return on equity of 31.91% and a negative net margin of 22.54%. During the same quarter in the previous year, the company posted ($0.11) earnings per share. equities analysts anticipate that Digital Turbine, Inc. will post -0.09 earnings per share for the current fiscal year.
Digital Turbine Profile
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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