Trellus Management Company buys $611,130 stake in Digital Turbine Inc (APPS)

Digital Turbine Inc (APPS) : Trellus Management Company scooped up 16,000 additional shares in Digital Turbine Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 18, 2016. The investment management firm now holds a total of 470,100 shares of Digital Turbine Inc which is valued at $611,130.Digital Turbine Inc makes up approximately 1.38% of Trellus Management Company’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp sold out all of its stake in APPS during the most recent quarter. The investment firm sold 219 shares of APPS which is valued $239.

Digital Turbine Inc opened for trading at $1.25 and hit $1.33 on the upside on Wednesday, eventually ending the session at $1.3, with a gain of 1.56% or 0.02 points. The heightened volatility saw the trading volume jump to 7,88,457 shares. Company has a market cap of $86 M.

On the company’s financial health, Digital Turbine Inc reported $-0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 13, 2016. Analyst had a consensus of $-0.07. The company had revenue of $23.00 million for the quarter, compared to analysts expectations of $23.10 million. The company’s revenue was up 125.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Many Wall Street Analysts have commented on Digital Turbine Inc. Digital Turbine Inc was Downgraded by Ladenburg Thalmann to ” Neutral” on Jun 14, 2016.

Digital Turbine Inc. formerly Mandalay Digital Group Inc. is 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 manages its business in four operating segments: Ignite IQ Appia Core and Content. The four operating segments have been aggregated into two segments: Advertising and Content. The Company’s Advertising business consists of products including the following: DT Ignite a mobile device management solution with targeted application distribution capabilities; DT IQ a customized user experience and application discovery tool; DT Media an advertiser solution for carrier and OEM inventory and Appia Core a mobile user acquisition network. Its Content business consists of the following products: DT Marketplace an application and content store and DT Pay a content management and mobile payment solution.

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