Mutual of America Capital Management LLC Raises Stock Position in Digital Turbine, Inc. (NASDAQ:APPS)

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Mutual of America Capital Management LLC grew its holdings in Digital Turbine, Inc. (NASDAQ:APPSGet Rating) by 2.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 80,465 shares of the software maker’s stock after acquiring an additional 1,838 shares during the period. Mutual of America Capital Management LLC’s holdings in Digital Turbine were worth $3,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp grew its stake in shares of Digital Turbine by 1.5% in the 4th quarter. State Street Corp now owns 2,807,074 shares of the software maker’s stock worth $171,203,000 after buying an additional 41,504 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Digital Turbine by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,558,196 shares of the software maker’s stock worth $95,034,000 after buying an additional 36,607 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Digital Turbine by 110.9% in the 4th quarter. Capital Research Global Investors now owns 885,751 shares of the software maker’s stock worth $54,022,000 after buying an additional 465,751 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Digital Turbine by 54.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 872,382 shares of the software maker’s stock worth $53,207,000 after purchasing an additional 307,233 shares during the period. Finally, Collaborative Holdings Management LP grew its holdings in Digital Turbine by 15.8% during the 4th quarter. Collaborative Holdings Management LP now owns 534,000 shares of the software maker’s stock valued at $32,569,000 after purchasing an additional 73,000 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Stock Performance

APPS stock opened at $18.56 on Wednesday. Digital Turbine, Inc. has a 1-year low of $14.43 and a 1-year high of $93.98. The business has a 50-day moving average price of $19.30 and a 200 day moving average price of $33.13. The company has a market capitalization of $1.83 billion, a P/E ratio of 54.59, a PEG ratio of 0.47 and a beta of 2.47. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 1.07.

Digital Turbine (NASDAQ:APPSGet Rating) last posted its quarterly earnings results on Tuesday, May 31st. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Digital Turbine had a net margin of 3.28% and a return on equity of 30.00%. The business had revenue of $184.14 million during the quarter, compared to analyst estimates of $336.45 million. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s quarterly revenue was up 93.7% compared to the same quarter last year. As a group, equities research analysts forecast that Digital Turbine, Inc. will post 1.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on APPS shares. Oppenheimer decreased their price objective on shares of Digital Turbine from $117.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, June 1st. StockNews.com initiated coverage on Digital Turbine in a research note on Thursday, March 31st. They set a “sell” rating for the company. Craig Hallum reduced their target price on Digital Turbine from $105.00 to $85.00 in a research note on Wednesday, June 1st. Macquarie lowered their target price on shares of Digital Turbine from $70.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, June 1st. Finally, B. Riley initiated coverage on shares of Digital Turbine in a research note on Tuesday, June 28th. They issued a “buy” rating and a $29.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Digital Turbine Company Profile

(Get Rating)

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 three segments: On Device Media, In App Media – AdColony, and In App Media – Fyber. 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 sponsored and editorial content media.

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