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Comerica Bank reduced its holding in Digital Turbine (NASDAQ:APPS – Get Rating) by 10.4% in the third quarter, according to the latest 13F file filed with the Securities and Exchange Commission. The fund owned 68,732 shares of the software maker after selling 7,990 of his shares during the period. Comerica Bank owned approximately 0.07% of Digital Turbine, valued at $979,000 at the end of the most recent reporting period.
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Many other hedge funds and other institutional investors have also recently changed their holdings in the business. Maryland State Retirement & Pension System raised its stake in Digital Turbine by 3.2% in the third quarter. Maryland State Retirement & Pension System now owns 36,782 shares in the software maker worth $530,000 after he bought an additional 1,144 shares last quarter. Money Concepts Capital Corp increased its stake in Digital Turbine by 5,650.0% in the third quarter. Money Concepts Capital Corp now owns 3,680 shares of the software maker worth $53,000 after purchasing an additional 3,616 shares last quarter. Allspring Global Investments Holdings LLC increased its stake in Digital Turbine by 35.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,517 shares of software maker stock valued at $122,000 after purchasing an additional 2,207 shares last quarter. Peregrine Capital Management LLC purchased new shares in Digital Turbine worth approximately $8,731,000 in the third quarter. Finally, Wipfli Financial Advisors LLC purchased new shares in Digital Turbine worth approximately $38,000 in the third quarter. Hedge funds and other institutional investors own 62.45% of the company’s shares.
Digital Turbine deals drop 1.7%
APPS shares Wednesday opened at $16.40. The company has a 50-day simple moving average of $16.12 and a 200-day simple moving average of $17.06. The company has a debt to equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 1.17. Digital Turbine, Inc. has a one-year low of $10.65 and a one-year high of $55.68. The stock has a market cap of $1.62 billion, a price/earnings ratio of 31.54, a PEG ratio of 0.97 and a beta of 2.38.
Digital Turbine (NASDAQ:APPS – Get Rating) announced final results on Wednesday, November 9th. The software maker reported his earnings per share (EPS) of $0.28 for the quarter, beating analyst consensus expectations of $0.26 for him by $0.02. Digital Turbine had a net profit margin of 5.82% and a return on equity of 26.56%. The business generated $174.86 million in revenue for the quarter, compared to analyst expectations of $173.67 million. As a group, the analyst expects Digital Turbine, Inc. to post his 1.15 earnings per share this year.
Analyst sets new price target
APPS stock has been the focus of many equity analysts lately. Roth Capital lowered its target price for digital turbines from his $32.00 to $20.00 in a research note on Monday, Oct. 31. StockNews.com upgraded Digital Turbine’s rating from “sell” to “hold” in its research notes on Tuesday, November 22nd. Oppenheimer lowered Digital Turbine’s price target from his $32.00 to $19.00 in a research note on Tuesday, Oct. 4, giving the stock an “outperform” rating. Craig Hallum lowered his price target for digital turbines to $30.00 from his $60.00 in a research note on Thursday, November 10th. Finally, B. Riley lowered his Digital Turbine price target to $28.00 from his $33.00, setting a ‘buy’ rating in a research note on Wednesday, Oct. 5. One analyst rated the stock with a holding rating and four issued buy ratings on the company’s stock. Based on MarketBeat.com data, the company’s current consensus rating is “moderate buy” with a consensus target price of $26.83.
Digital Turbine Company Profile
(get rating)
Digital Turbine, Inc. is a leading media and mobile communications company that helps provide end-to-end platform solutions to mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties. Committed to innovation. It operates through On Device Media (ODM), In App Media-AdColony (IAM-A), and In App Media-Fyber (IAM-F) segments.
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