Brooktree Capital Management Increases Stock Position in Digital Turbine, Inc. (NASDAQ:APPS)

Brooktree Capital Management boosted its holdings in Digital Turbine, Inc. (NASDAQ:APPS) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,621 shares of the software maker’s stock after acquiring an additional 25,061 shares during the quarter. Digital Turbine accounts for approximately 0.9% of Brooktree Capital Management’s holdings, making the stock its 21st largest position. Brooktree Capital Management owned approximately 0.36% of Digital Turbine worth $1,122,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of Digital Turbine by 104.1% during the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after purchasing an additional 4,167 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Digital Turbine during the 1st quarter valued at about $28,000. Ballentine Partners LLC bought a new stake in shares of Digital Turbine in the third quarter worth approximately $43,000. SG Americas Securities LLC purchased a new position in shares of Digital Turbine during the second quarter valued at approximately $46,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Digital Turbine during the first quarter valued at approximately $55,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Stock Performance

Shares of NASDAQ APPS opened at $1.54 on Thursday. Digital Turbine, Inc. has a 12-month low of $1.31 and a 12-month high of $7.33. The firm has a market capitalization of $159.69 million, a price-to-earnings ratio of -0.51, a price-to-earnings-growth ratio of 4.20 and a beta of 2.59. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. The firm has a 50 day moving average of $2.90 and a 200 day moving average of $2.49.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on APPS. Craig Hallum cut their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Macquarie cut their price objective on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th.

Insider Buying and Selling at Digital Turbine

In other news, Director Robert M. Deutschman bought 100,000 shares of Digital Turbine stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $1.41 per share, with a total value of $141,000.00. Following the acquisition, the director now owns 571,216 shares of the company’s stock, valued at $805,414.56. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.80% of the stock is currently owned by corporate insiders.

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.