Brooktree Capital Management Sells 71,254 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Brooktree Capital Management decreased its position in Digital Turbine, Inc. (NASDAQ:APPS) by 21.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,482 shares of the software maker’s stock after selling 71,254 shares during the quarter. Digital Turbine accounts for 1.4% of Brooktree Capital Management’s portfolio, making the stock its 18th largest position. Brooktree Capital Management owned about 0.26% of Digital Turbine worth $1,794,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. White Pine Capital LLC lifted its position in Digital Turbine by 4.9% in the fourth quarter. White Pine Capital LLC now owns 43,736 shares of the software maker’s stock valued at $300,000 after purchasing an additional 2,034 shares during the last quarter. Semanteon Capital Management LP bought a new stake in Digital Turbine in the fourth quarter valued at approximately $913,000. Atria Wealth Solutions Inc. increased its stake in shares of Digital Turbine by 35.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 17,976 shares of the software maker’s stock valued at $123,000 after buying an additional 4,691 shares during the period. GAMMA Investing LLC purchased a new position in shares of Digital Turbine during the fourth quarter valued at approximately $43,000. Finally, Federated Hermes Inc. increased its stake in shares of Digital Turbine by 227.3% during the fourth quarter. Federated Hermes Inc. now owns 204,918 shares of the software maker’s stock valued at $1,406,000 after buying an additional 142,316 shares during the period. Institutional investors own 63.66% of the company’s stock.

Digital Turbine Stock Down 1.0 %

APPS stock traded down $0.02 during midday trading on Wednesday, hitting $1.89. The stock had a trading volume of 238,691 shares, compared to its average volume of 2,457,841. The firm has a market cap of $192.84 million, a price-to-earnings ratio of -0.97, a price-to-earnings-growth ratio of 4.82 and a beta of 2.48. The business has a 50-day moving average of $2.54 and a two-hundred day moving average of $4.43. Digital Turbine, Inc. has a 52-week low of $1.78 and a 52-week high of $14.61. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.07 and a quick ratio of 1.07.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Digital Turbine had a positive return on equity of 4.48% and a negative net margin of 34.53%. The firm had revenue of $142.63 million during the quarter, compared to analysts’ expectations of $146.45 million. As a group, equities research analysts forecast that Digital Turbine, Inc. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Roth Mkm reduced their target price on Digital Turbine from $5.50 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. StockNews.com raised Digital Turbine from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Craig Hallum reduced their price target on Digital Turbine from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.50.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.