Digital Turbine, Inc. (NASDAQ:APPS) was dealt a major blow when DekaBank Deutsche Girozentrale reduced its position in the software maker’s stock during the fourth quarter. The bank sold off 17,636 shares or 69.0% of its holding according to a filing with the Securities and Exchange Commission (SEC), leaving it with 7,937 shares worth $120,000 as of its most recent filing.
As one of the key players in delivering an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties, Digital Turbine’s innovation in media and mobile communications is critical in today’s ever-evolving social landscape.
Despite Craig Hallum lowering their price target on the company from $30.00 to $25.00 and giving it a “buy” rating early this year, Macquarie has since downgraded Digital Turbine to “neutral” status from an “outperform” rating citing aggressive competition within its industry having a negative impact on earnings.
Oppenheimer followed suit by downgrading Digital Turbine from an “outperform” rating to “market perform,” thereby reducing investor confidence further. All eyes are now trained on how Digital Turbine will regroup and address these concerns.
Notwithstanding these setbacks, StockNews.com predicts that there may be hope for APPS according to observations made earlier this year; however they do sound a note of caution advising investors to tread carefully while maintaining a “sell” rating for the time being.
As things stand based on data sourced from Bloomberg there is still some cause for concern given that only two brokerages consider it strongly enough to warrant a “buy” recommendation; three others have predicted only hold ratings while one advisor stands by his sell recommendation.
In conclusion, Digital Turbine currently has its hands full as the market envisions what concomitant strategy it will employ in the future to get ahead of its competitors. Investors should weigh their options carefully before making any premature decision; and the company needs a solid plan in place – one which effectively addresses the challenges laid out by the brokerages, to give its stockholders renewed confidence in a sector that is pivotal to technological advancement in our modern world.
Institutional Investors and Hedge Funds Show Strong Interest in Digital Turbine, Inc.
Digital Turbine, Inc. has caught the attention of numerous institutional investors and hedge funds, as they have recently modified their holdings of APPS. One example is the Vanguard Group Inc., who has lifted its position in Digital Turbine by 8.6% during the third quarter. Its current total shares owned now stands at 10,649,564 shares valued at $153,461,000 after purchasing an additional 843,856 shares in the last quarter alone.
Similarly, Peregrine Capital Management LLC purchased a new set of Digital Turbine stocks during the third quarter valued at $8,731,000. Rice Hall James & Associates LLC also followed suit by buying into Digital Turbine’s worth during the first quarter for around $21,530,000.
Alongside those establishments that have newly bought into Digital Turbine are already-existing investors such as BlackRock Inc., which owns 10,426,749 shares valued at $456,794 after adding an additional 453,301 shares to its stockpile in Q1 this year. Renaissance Technologies LLC was another investor that purchased a new stake amounting to $7,316. These investments bring up-to-date many hedge fund and other institutional investors holding a significant percentage – specifically up to 62.45% – of the company’s overall subsidiary.
In related news disclosed on March 13th with Securities & Exchange Commission (SEC), Director Robert M. Deutschman acquired roughly 15 thousand newly issued Digital Turbine stocks at a price average of $9.80 per share amounting up to $147 thousand overall cost.
Additionally on March 15th revealed in same aforementioned document filed with SEC citing CEO William Gordon Stone III sold some of business’s outstanding stocks amounting up to 35 thousand needing transacting value sales worth close to $368 thousand dollars giving Stone III around estimated value shares numbering almost 1 million seven hundred thousand ($17 million) due currently seated within him.
APPS stocks opened at $12.28 last Tuesday, April 13th – this highlights the previous 12-month low of $9.13 and high of $34.72 in record. The company’s current ratio stands at 1.18 while its quick ratio is also presently recorded at 1.18 level respectively across all sectors of interests to investors holding Digital Turbine shares within the market.
Digital Turbine (NASDAQ:APPS) has just rung up and announced its earnings result for Q1 on Wednesday, February 8th which costs investors with $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.09). The software making establishment had a return on equity (ROE) increasing around twenty-one percent and a net margin of around seven percent to account for official Q1 figures available publicly.
Based on recent facts and data analysis, it is predicted that Digital Turbine will positively post 0.94 earnings per share (EPS) for the current fiscal year as outlined by some analysts likewise recorded previously above; highlighting strong confidence in their potential growth moving forward amidst so many institutional investments subscribed by many investors from hedge fund investment sectors looking forward to long-term market returns universally lowering any risk levels seen in bleak scenarios over time reaching overall revenue goals forecasting unpredictable market volatility pricing-wise historically associated with more unknown stock trades through slight stock fluctuation numbers unveiled ahead.
In conclusion, despite lacking robust performance during their most recent quarterly earnings results Digital Turbine remains confident with extrapolating further revenues through continued innovation supported by a substantial percentage hold among institutional investments predominantly born from hedge fund establishment accruing significant amounts bought-in shares counting above almost sixty-three percentage amount of subsidiary held to date indicative of long term investment and trust through analytics seen here over an array of successive quarters thus investing heavily is reducing risks effectively while upholding value as a long-term proposition.
