Digital Turbine, Inc. (APPS) Shares Up -0.7% on Insider Buying Activity

Digital Turbine, Inc. (NASDAQ:APPS) shot up 0.7% during trading on Monday after an insider bought additional shares in the company. The company traded as high as $1.59 and last traded at $1.48. 199,900 shares were traded during mid-day trading, a decline of 28% from the average session volume of 277,294 shares. The stock had previously closed at $1.49.

Specifically, CEO William Gordon Stone III bought 50,000 shares of the stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $1.56 per share, for a total transaction of $78,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.80% of the company’s stock.

A number of equities research analysts have commented on the company. B. Riley reissued a “buy” rating and issued a $1.40 price objective on shares of Digital Turbine in a research note on Monday, August 14th. Zacks Investment Research cut Digital Turbine from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Roth Capital set a $1.00 price objective on Digital Turbine and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, ValuEngine cut Digital Turbine from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Digital Turbine has an average rating of “Hold” and an average price target of $1.55.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.78 and a current ratio of 0.78.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative return on equity of 23.85% and a negative net margin of 20.41%. The firm had revenue of $27.90 million during the quarter, compared to analysts’ expectations of $26.96 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. equities research analysts predict that Digital Turbine, Inc. will post -0.15 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in APPS. Thompson Davis & CO. Inc. purchased a new position in shares of Digital Turbine during the third quarter valued at approximately $101,000. Granahan Investment Management Inc. MA purchased a new position in shares of Digital Turbine during the third quarter valued at approximately $350,000. Unterberg Capital LLC purchased a new position in shares of Digital Turbine during the second quarter valued at approximately $412,000. EAM Investors LLC purchased a new position in shares of Digital Turbine during the third quarter valued at approximately $465,000. Finally, Trellus Management Company LLC boosted its position in shares of Digital Turbine by 16.2% during the second quarter. Trellus Management Company LLC now owns 600,000 shares of the software maker’s stock valued at $618,000 after buying an additional 83,675 shares during the last quarter. 15.78% of the stock is currently owned by institutional investors.

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Digital Turbine Company Profile

Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.

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