Digital Turbine Target of Unusually High Options Trading (NASDAQ:APPS)

Digital Turbine, Inc. (NASDAQ:APPS) saw unusually large options trading activity on Thursday. Stock investors purchased 6,084 call options on the stock. This represents an increase of 182% compared to the average volume of 2,157 call options.

Wall Street Analyst Weigh In

Several brokerages recently commented on APPS. Macquarie decreased their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. Finally, Craig Hallum reduced their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.38.

Digital Turbine Price Performance

NASDAQ:APPS opened at $4.90 on Friday. The company has a 50 day moving average price of $1.94 and a 200-day moving average price of $2.46. Digital Turbine has a 1-year low of $1.18 and a 1-year high of $5.20. The firm has a market cap of $508.28 million, a price-to-earnings ratio of -1.66 and a beta of 2.38. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. Equities research analysts forecast that Digital Turbine will post -0.13 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert M. Deutschman purchased 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $1.41 per share, for a total transaction of $141,000.00. Following the acquisition, the director now owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. This represents a 21.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 127,000 shares of company stock worth $175,610 in the last three months. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently added to or reduced their stakes in APPS. AQR Capital Management LLC boosted its stake in Digital Turbine by 97.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock worth $2,546,000 after purchasing an additional 755,707 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Digital Turbine by 719.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after purchasing an additional 340,512 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in Digital Turbine during the 4th quarter worth $372,000. Geode Capital Management LLC boosted its stake in Digital Turbine by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after purchasing an additional 181,032 shares during the last quarter. Finally, Lindbrook Capital LLC acquired a new stake in Digital Turbine during the 3rd quarter worth $405,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.