P.A.W. Capital Corp lowered its position in Digital Turbine Inc (NASDAQ:APPS) by 21.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 860,000 shares of the software maker’s stock after selling 240,000 shares during the quarter. Digital Turbine accounts for approximately 3.0% of P.A.W. Capital Corp’s investment portfolio, making the stock its 9th largest position. P.A.W. Capital Corp owned approximately 1.05% of Digital Turbine worth $3,010,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Financial Inc. increased its stake in shares of Digital Turbine by 506.9% in the third quarter. B. Riley Financial Inc. now owns 65,850 shares of the software maker’s stock valued at $82,000 after buying an additional 55,000 shares during the period. Bank of New York Mellon Corp increased its position in Digital Turbine by 66.1% during the 4th quarter. Bank of New York Mellon Corp now owns 45,474 shares of the software maker’s stock valued at $83,000 after purchasing an additional 18,102 shares during the period. Millennium Management LLC acquired a new stake in Digital Turbine during the 4th quarter valued at approximately $83,000. Russell Investments Group Ltd. acquired a new stake in Digital Turbine during the 3rd quarter valued at approximately $178,000. Finally, Bailard Inc. acquired a new stake in Digital Turbine during the 4th quarter valued at approximately $210,000. 19.19% of the stock is owned by institutional investors.
Shares of APPS opened at $3.60 on Wednesday. Digital Turbine Inc has a 12-month low of $1.12 and a 12-month high of $3.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $292.24 million, a P/E ratio of -39.99 and a beta of 1.78.
A number of research firms have weighed in on APPS. Zacks Investment Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 9th. ValuEngine raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research report on Friday, January 4th. Finally, B. Riley reissued a “buy” rating and set a $4.00 target price (up previously from $2.90) on shares of Digital Turbine in a research report on Tuesday, February 26th. Four analysts have rated the stock with a buy rating, Digital Turbine has a consensus rating of “Buy” and an average target price of $4.00.
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Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.
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