Zacks Investment Research downgraded shares of Digital Turbine (NASDAQ:APPS) from a hold rating to a sell rating in a research report report published on Monday.

According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “

APPS has been the topic of a number of other reports. Roth Capital reaffirmed a buy rating on shares of Digital Turbine in a report on Monday, December 4th. ValuEngine lowered Digital Turbine from a hold rating to a sell rating in a report on Tuesday, November 7th. Finally, B. Riley reaffirmed a buy rating and issued a $2.00 price objective (up from $1.40) on shares of Digital Turbine in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $1.91.

Digital Turbine (NASDAQ APPS) opened at $2.45 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.20. Digital Turbine has a 1-year low of $0.69 and a 1-year high of $2.51.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its holdings in Digital Turbine by 178.3% in the 4th quarter. Millennium Management LLC now owns 311,196 shares of the software maker’s stock valued at $557,000 after buying an additional 199,392 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Digital Turbine by 239.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 69,500 shares of the software maker’s stock valued at $124,000 after buying an additional 49,049 shares in the last quarter. Deutsche Bank AG grew its holdings in Digital Turbine by 17.4% in the 4th quarter. Deutsche Bank AG now owns 447,591 shares of the software maker’s stock valued at $801,000 after buying an additional 66,242 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Digital Turbine by 20.9% in the 4th quarter. Renaissance Technologies LLC now owns 945,874 shares of the software maker’s stock valued at $1,693,000 after buying an additional 163,700 shares in the last quarter. Finally, White Pine Capital LLC grew its holdings in Digital Turbine by 6.3% in the 4th quarter. White Pine Capital LLC now owns 1,051,025 shares of the software maker’s stock valued at $1,881,000 after buying an additional 61,900 shares in the last quarter. 19.85% of the stock is currently owned by hedge funds and other institutional investors.

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About Digital Turbine

Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.

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