Investors Purchase Large Volume of Call Options on Digital Turbine (NASDAQ:APPS)

Digital Turbine, Inc. (NASDAQ:APPS) was the target of some unusual options trading on Thursday. Stock traders purchased 6,084 call options on the company. This represents an increase of 182% compared to the average daily volume of 2,157 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America downgraded Digital Turbine from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $3.50 to $1.00 in a research report on Friday, November 15th. Macquarie cut their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Craig Hallum lowered their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.38.

Digital Turbine Trading Up 65.4 %

Shares of NASDAQ APPS traded up $1.66 during mid-day trading on Thursday, reaching $4.20. The company had a trading volume of 26,821,123 shares, compared to its average volume of 3,560,098. 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 stock has a market cap of $435.67 million, a price-to-earnings ratio of -1.41 and a beta of 2.38. The business’s 50-day moving average is $1.87 and its 200-day moving average is $2.44. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $5.34.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. Equities analysts expect that Digital Turbine will post -0.13 earnings per share for the current year.

Insider Buying and Selling at Digital Turbine

In related news, Director Robert M. Deutschman purchased 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $1.41 per share, with a total value of $141,000.00. Following the completion of the acquisition, the director now owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. This trade represents a 21.22 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 127,000 shares of company stock worth $175,610 in the last three months. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Digital Turbine

A number of large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Digital Turbine by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after buying an additional 3,695 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Digital Turbine by 104.1% in 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 during the period. US Bancorp DE raised its stake in shares of Digital Turbine by 37.7% in the third quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock worth $82,000 after purchasing an additional 7,266 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Digital Turbine by 28.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker’s stock worth $64,000 after purchasing an additional 8,426 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in Digital Turbine in the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

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.