Semanteon Capital Management LP Takes $913,000 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 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 133,058 shares of the software maker’s stock, valued at approximately $913,000.

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

Digital Turbine Price Performance

Shares of NASDAQ:APPS traded down $0.10 during midday trading on Thursday, reaching $1.82. 1,083,314 shares of the company’s stock were exchanged, compared to its average volume of 2,530,180. Digital Turbine, Inc. has a 12 month low of $1.78 and a 12 month high of $14.61. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.07 and a current ratio of 1.07. The company’s 50 day simple moving average is $2.67 and its two-hundred day simple moving average is $4.54. The firm has a market capitalization of $185.68 million, a PE ratio of -0.92, a price-to-earnings-growth ratio of 4.77 and a beta of 2.48.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). The company had revenue of $142.63 million for the quarter, compared to analyst estimates of $146.45 million. Digital Turbine had a positive return on equity of 4.48% and a negative net margin of 34.53%. Equities research analysts expect that Digital Turbine, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APPS shares. Roth Mkm lowered their price target on Digital Turbine from $5.50 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Craig Hallum decreased their target price on shares of Digital Turbine from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, StockNews.com downgraded shares of Digital Turbine from a “hold” rating to a “sell” rating in a report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.50.

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.