G2 Investment Partners Management LLC Buys New Holdings in Digital Turbine, Inc. $APPS

by · The Cerbat Gem

G2 Investment Partners Management LLC purchased a new stake in shares of Digital Turbine, Inc. (NASDAQ:APPS – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,413,800 shares of the software maker’s stock, valued at approximately $8,341,000. Digital Turbine accounts for 1.8% of G2 Investment Partners Management LLC’s portfolio, making the stock its 21st largest holding. G2 Investment Partners Management LLC owned approximately 1.30% of Digital Turbine at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of APPS. Legal & General Group Plc grew its holdings 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 period. Prudential Financial Inc. purchased a new stake in Digital Turbine during the second quarter worth approximately $74,000. Worth Venture Partners LLC acquired a new stake in shares of Digital Turbine in the second quarter worth $74,000. Strs Ohio purchased a new position in shares of Digital Turbine in the 1st quarter valued at $41,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Digital Turbine during the 1st quarter valued at $45,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Trading Down 3.2%

Shares of APPS opened at $4.79 on Friday. Digital Turbine, Inc. has a one year low of $1.40 and a one year high of $8.28. The stock has a 50-day moving average price of $5.72 and a 200 day moving average price of $5.32. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $537.20 million, a P/E ratio of -6.56, a P/E/G ratio of 1.46 and a beta of 2.30.

Digital Turbine (NASDAQ:APPS – Get Free Report) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Digital Turbine had a positive return on equity of 12.12% and a negative net margin of 14.59%.The company had revenue of $140.38 million for the quarter, compared to analyst estimates of $142.00 million. Sell-side analysts forecast that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

APPS has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a research report on Monday. Craig Hallum reissued a “buy” rating and set a $10.00 price target on shares of Digital Turbine in a research report on Wednesday, November 5th. Finally, Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

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About Digital Turbine

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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.

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