507,686 Shares in Digital Turbine Inc (NASDAQ:APPS) Acquired by Roubaix Capital LLC

Roubaix Capital LLC purchased a new position in shares of Digital Turbine Inc (NASDAQ:APPS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 507,686 shares of the software maker’s stock, valued at approximately $1,777,000. Roubaix Capital LLC owned about 0.65% of Digital Turbine at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of Digital Turbine in the fourth quarter valued at about $83,000. Bank of New York Mellon Corp grew its stake in shares of Digital Turbine by 66.1% in the fourth quarter. Bank of New York Mellon Corp now owns 45,474 shares of the software maker’s stock valued at $83,000 after buying an additional 18,102 shares in the last quarter. B. Riley Financial Inc. grew its stake in shares of Digital Turbine by 506.9% in the third quarter. B. Riley Financial Inc. now owns 65,850 shares of the software maker’s stock valued at $82,000 after buying an additional 55,000 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Digital Turbine in the fourth quarter valued at about $210,000. Finally, Lindbrook Capital LLC acquired a new stake in shares of Digital Turbine in the fourth quarter valued at about $241,000. Institutional investors own 19.19% of the company’s stock.

Shares of APPS opened at $3.59 on Thursday. The stock has a market capitalization of $297.14 million, a P/E ratio of -40.11 and a beta of 1.78. Digital Turbine Inc has a one year low of $1.12 and a one year high of $3.97. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Digital Turbine had a positive return on equity of 1.62% and a negative net margin of 38.60%. The firm had revenue of $30.41 million during the quarter, compared to the consensus estimate of $28.95 million. On average, research analysts anticipate that Digital Turbine Inc will post 0.05 EPS for the current year.

APPS has been the subject of a number of analyst reports. B. Riley reissued a “buy” rating and issued a $4.00 price target (up previously from $2.90) on shares of Digital Turbine in a report on Tuesday, February 26th. ValuEngine raised Digital Turbine from a “hold” rating to a “buy” rating in a report on Friday, January 4th. Finally, Zacks Investment Research downgraded Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 9th. Four analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $4.00.

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Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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Institutional Ownership by Quarter for Digital Turbine (NASDAQ:APPS)

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