Digital Turbine, Inc. $APPS Shares Acquired by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC grew its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 233.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,000,000 shares of the software maker’s stock after acquiring an additional 1,400,000 shares during the quarter. Digital Turbine comprises approximately 3.5% of Manatuck Hill Partners LLC’s investment portfolio, making the stock its 5th biggest position. Manatuck Hill Partners LLC owned about 1.67% of Digital Turbine worth $10,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP increased its stake in shares of Digital Turbine by 1,323.4% in the 4th quarter. Quarry LP now owns 5,594 shares of the software maker’s stock worth $28,000 after acquiring an additional 5,201 shares during the last quarter. Strs Ohio acquired a new stake in shares of Digital Turbine during the 1st quarter worth about $41,000. PFG Investments LLC acquired a new stake in shares of Digital Turbine during the 4th quarter worth about $50,000. Smartleaf Asset Management LLC acquired a new stake in shares of Digital Turbine during the 2nd quarter worth about $57,000. Finally, Legal & General Group Plc increased its position in shares of Digital Turbine by 31.6% during the 2nd quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after purchasing an additional 2,550 shares during the last quarter. 63.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APPS. Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 28th. Weiss Ratings cut Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Wall Street Zen upgraded Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Digital Turbine currently has an average rating of “Moderate Buy” and an average target price of $8.75.

Digital Turbine Price Performance

Shares of NASDAQ APPS opened at $8.62 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84. Digital Turbine, Inc. has a twelve month low of $2.74 and a twelve month high of $10.80. The stock has a 50 day moving average of $5.49 and a two-hundred day moving average of $4.81. The stock has a market cap of $1.04 billion, a P/E ratio of -23.94, a P/E/G ratio of 0.73 and a beta of 2.85.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. The business had revenue of $142.55 million for the quarter, compared to analyst estimates of $133.23 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. On average, research analysts forecast that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.