Virtu Financial LLC Invests $336,000 in Digital Turbine, Inc. (NASDAQ:APPS)

Virtu Financial LLC acquired a new position in shares of Digital Turbine, Inc. (NASDAQ:APPS) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 198,567 shares of the software maker’s stock, valued at approximately $336,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Intech Investment Management LLC purchased a new stake in Digital Turbine during the third quarter valued at about $84,000. Centiva Capital LP purchased a new stake in shares of Digital Turbine in the 3rd quarter valued at approximately $262,000. XTX Topco Ltd boosted its stake in Digital Turbine by 33.8% in the 3rd quarter. XTX Topco Ltd now owns 169,868 shares of the software maker’s stock worth $521,000 after purchasing an additional 42,954 shares during the period. Barclays PLC grew its position in Digital Turbine by 62.5% during the 3rd quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock worth $776,000 after purchasing an additional 97,196 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Digital Turbine by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after purchasing an additional 181,032 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Trading Down 5.8 %

Shares of NASDAQ:APPS opened at $3.09 on Friday. The firm has a fifty day moving average of $3.57 and a two-hundred day moving average of $2.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $6.86. The firm has a market capitalization of $324.47 million, a P/E ratio of -1.02 and a beta of 2.43.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. On average, equities analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Digital Turbine from a “hold” rating to a “sell” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.38.

Digital Turbine Profile

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.