SG Americas Securities LLC Sells 91,941 Shares of Digital Turbine, Inc. $APPS

SG Americas Securities LLC reduced its position in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 52.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 84,413 shares of the software maker’s stock after selling 91,941 shares during the quarter. SG Americas Securities LLC’s holdings in Digital Turbine were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Granahan Investment Management LLC grew its holdings in shares of 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 buying an additional 2,489,376 shares in the last quarter. Invesco Ltd. lifted its stake in Digital Turbine by 369.0% in the 4th quarter. Invesco Ltd. now owns 1,829,003 shares of the software maker’s stock valued at $9,145,000 after acquiring an additional 1,438,986 shares in the last quarter. Manatuck Hill Partners LLC lifted its stake in Digital Turbine by 233.3% in the 4th quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock valued at $10,000,000 after acquiring an additional 1,400,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Digital Turbine during the 4th quarter worth approximately $3,712,000. Finally, UBS Group AG boosted its position in Digital Turbine by 444.0% during the 4th quarter. UBS Group AG now owns 779,585 shares of the software maker’s stock worth $3,898,000 after acquiring an additional 636,267 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Digital Turbine Stock Performance

APPS opened at $10.56 on Friday. Digital Turbine, Inc. has a 52-week low of $2.74 and a 52-week high of $13.60. The firm has a market capitalization of $1.27 billion, a PE ratio of -29.33, a PEG ratio of 0.87 and a beta of 2.75. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.16 and a current ratio of 1.16. The business’s 50-day simple moving average is $8.05 and its 200 day simple moving average is $5.52.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The firm had revenue of $142.55 million during the quarter, compared to the consensus estimate of $133.22 million. As a group, sell-side analysts expect that Digital Turbine, Inc. will post 0.68 earnings per share for the current fiscal year.

About Digital Turbine

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.