Semanteon Capital Management LP Takes Position in Digital Turbine, Inc. (NASDAQ:APPS)

Semanteon Capital Management LP bought a new position in shares of Digital Turbine, Inc. (NASDAQ:APPS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 133,058 shares of the software maker’s stock, valued at approximately $913,000. Semanteon Capital Management LP owned 0.13% of Digital Turbine as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in Digital Turbine in the 3rd quarter worth about $3,557,000. Swiss National Bank raised its holdings in shares of Digital Turbine by 1.8% during the 3rd quarter. Swiss National Bank now owns 219,800 shares of the software maker’s stock worth $1,330,000 after acquiring an additional 3,800 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Digital Turbine by 194.3% in the third quarter. PNC Financial Services Group Inc. now owns 10,725 shares of the software maker’s stock valued at $65,000 after purchasing an additional 7,081 shares in the last quarter. Vanguard Group Inc. lifted its position in Digital Turbine by 0.5% during the third quarter. Vanguard Group Inc. now owns 12,247,455 shares of the software maker’s stock valued at $74,097,000 after purchasing an additional 64,412 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its stake in shares of Digital Turbine by 517.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 86,634 shares of the software maker’s stock worth $524,000 after buying an additional 72,602 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APPS has been the subject of several analyst reports. Craig Hallum lowered their price objective on Digital Turbine from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Roth Mkm dropped their price objective on shares of Digital Turbine from $5.50 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Finally, StockNews.com cut shares of Digital Turbine from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Digital Turbine presently has an average rating of “Hold” and a consensus target price of $7.50.

Digital Turbine Trading Down 5.2 %

Shares of Digital Turbine stock traded down $0.10 on Thursday, hitting $1.82. 1,083,314 shares of the company traded hands, compared to its average volume of 2,530,180. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.84. The company has a market cap of $185.68 million, a PE ratio of -0.92, a PEG ratio of 4.77 and a beta of 2.48. The stock’s 50 day moving average price is $2.67 and its 200-day moving average price is $4.54. Digital Turbine, Inc. has a 52 week low of $1.78 and a 52 week high of $14.61.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $142.63 million during the quarter, compared to analysts’ expectations of $146.45 million. Equities research analysts predict that Digital Turbine, Inc. will post 0.16 EPS for the current year.

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.