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

SG Americas Securities LLC lowered its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 52.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,413 shares of the software maker’s stock after selling 91,941 shares during the quarter. SG Americas Securities LLC owned about 0.07% of Digital Turbine worth $243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in APPS. Granahan Investment Management LLC increased its stake in shares of Digital Turbine by 77.2% in the 3rd quarter. Granahan Investment Management LLC now owns 5,713,937 shares of the software maker’s stock valued at $36,569,000 after acquiring an additional 2,489,376 shares during the last quarter. UBS Group AG boosted its stake 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. S Squared Technology LLC grew its holdings in Digital Turbine by 13.0% during the fourth quarter. S Squared Technology LLC now owns 653,571 shares of the software maker’s stock valued at $3,268,000 after purchasing an additional 75,000 shares during the period. Manatuck Hill Partners LLC grew its holdings in Digital Turbine by 233.3% during the fourth quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock valued at $10,000,000 after purchasing an additional 1,400,000 shares during the period. Finally, GSA Capital Partners LLP increased its stake in Digital Turbine by 890.2% in the fourth quarter. GSA Capital Partners LLP now owns 189,394 shares of the software maker’s stock valued at $947,000 after purchasing an additional 170,268 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Digital Turbine Price Performance

NASDAQ APPS opened at $10.56 on Friday. The business has a 50 day simple moving average of $8.05 and a 200 day simple moving average of $5.52. Digital Turbine, Inc. has a 52-week low of $2.74 and a 52-week high of $13.60. 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 stock has a market cap of $1.27 billion, a price-to-earnings ratio of -29.33, a PEG ratio of 0.87 and a beta of 2.75.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, May 26th. The software maker reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. The firm had revenue of $142.55 million for the quarter, compared to the consensus estimate of $133.22 million. Analysts anticipate 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.