Manatuck Hill Partners LLC Acquires 1,400,000 Shares of Digital Turbine, Inc. $APPS

Manatuck Hill Partners LLC increased its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 233.3% during the fourth quarter, HoldingsChannel reports. The fund owned 2,000,000 shares of the software maker’s stock after buying an additional 1,400,000 shares during the period. Digital Turbine comprises approximately 3.5% of Manatuck Hill Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Manatuck Hill Partners LLC’s holdings in Digital Turbine were worth $10,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APPS. Granahan Investment Management LLC grew its holdings in Digital Turbine by 77.2% during the third quarter. Granahan Investment Management LLC now owns 5,713,937 shares of the software maker’s stock worth $36,569,000 after acquiring an additional 2,489,376 shares during the period. Invesco Ltd. boosted its position in Digital Turbine by 240.9% during the second quarter. Invesco Ltd. now owns 1,295,618 shares of the software maker’s stock worth $7,644,000 after purchasing an additional 915,536 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Digital Turbine during the fourth quarter worth $3,712,000. UBS Group AG boosted its position in Digital Turbine by 444.0% during the fourth quarter. UBS Group AG now owns 779,585 shares of the software maker’s stock worth $3,898,000 after purchasing an additional 636,267 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC boosted its position in Digital Turbine by 634.8% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 634,542 shares of the software maker’s stock worth $3,173,000 after purchasing an additional 548,188 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Stock Down 8.3%

Shares of NASDAQ:APPS opened at $8.62 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84. Digital Turbine, Inc. has a 52-week low of $2.74 and a 52-week high of $10.80. The stock’s fifty day simple moving average is $5.49 and its 200-day simple moving average is $4.81. The company has a market capitalization 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 for the quarter, topping the consensus estimate of $0.09 by $0.07. The firm had revenue of $142.55 million for the quarter, compared to the consensus estimate of $133.23 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. As a group, equities research analysts forecast that Digital Turbine, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 28th. Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Wednesday, May 27th. Wall Street Zen upgraded Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Digital Turbine presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Digital Turbine Profile

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.