Anchor Capital Advisors LLC Raises Holdings in Digital Turbine, Inc. (NASDAQ:APPS)

Anchor Capital Advisors LLC boosted its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,542 shares of the software maker’s stock after buying an additional 1,345 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Digital Turbine were worth $572,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. White Pine Capital LLC increased its holdings in Digital Turbine by 85.3% during the fourth quarter. White Pine Capital LLC now owns 28,533 shares of the software maker’s stock valued at $435,000 after buying an additional 13,133 shares during the period. Advisor Group Holdings Inc. grew its holdings in Digital Turbine by 2.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 109,482 shares of the software maker’s stock worth $1,669,000 after purchasing an additional 2,353 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Digital Turbine by 45.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,430 shares of the software maker’s stock worth $144,000 after purchasing an additional 2,945 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Digital Turbine by 9.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,333 shares of the software maker’s stock worth $645,000 after purchasing an additional 3,700 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in Digital Turbine in the fourth quarter worth $307,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APPS has been the topic of several analyst reports. B. Riley cut their price target on shares of Digital Turbine from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, March 13th. Craig Hallum cut their price target on shares of Digital Turbine from $25.00 to $20.00 in a report on Thursday. Macquarie lowered shares of Digital Turbine from an “outperform” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Friday, February 17th. Bank of America cut their price target on shares of Digital Turbine from $16.00 to $13.00 in a report on Thursday. Finally, StockNews.com assumed coverage on shares of Digital Turbine in a research note on Thursday, May 18th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Digital Turbine currently has an average rating of “Hold” and an average target price of $14.71.

Insider Activity at Digital Turbine

In related news, CEO William Gordon Stone III sold 36,025 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $10.75, for a total transaction of $387,268.75. Following the completion of the transaction, the chief executive officer now directly owns 1,682,789 shares in the company, valued at $18,089,981.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William Gordon Stone III sold 36,025 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $10.75, for a total transaction of $387,268.75. Following the completion of the transaction, the chief executive officer now directly owns 1,682,789 shares in the company, valued at $18,089,981.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert M. Deutschman bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average price of $9.80 per share, with a total value of $147,000.00. Following the completion of the transaction, the director now directly owns 289,017 shares of the company’s stock, valued at $2,832,366.60. The disclosure for this purchase can be found here. 5.50% of the stock is currently owned by insiders.

Digital Turbine Trading Down 43.0 %

NASDAQ:APPS opened at $8.23 on Friday. Digital Turbine, Inc. has a 12 month low of $8.10 and a 12 month high of $27.03. The firm has a fifty day simple moving average of $12.09 and a 200-day simple moving average of $13.90. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $816.42 million, a P/E ratio of 51.44, a PEG ratio of 1.54 and a beta of 2.47.

About Digital Turbine

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).