Chart of the Day

Digital Turbine Inc. (APPS, Nasdaq)

Close: $64

APPS was our Chart of the Day on Jan. 19th. Click here.

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 through one operating segment, advertising.

After pulling back from our original purchase, APPS behaved very well through the recent market pullback. APPS held the 21 DMA perfectly, holding character nicely. We added to APPS  slightly at $64 bringing the position to 4% of our Trending Value Equity model.

APPS reported earnings last night and quarterly profits quadrupled to $22.5 million beating expectations by 36%. “The amount of time and money spent by consumers within applications continues to rise, as consumers increasingly grow accustomed to consuming more content and spending greater share of their wallets using the applications on their mobile devices,” CEO Bill Stone said in a statement.

Today we reduced our Digital Turbine position by 25% at a price of $81.00. It is still planned as a longer -term holding. This is a risk management and position management adjustment only to lock in some gains and reduce open risk.

 

 

 

 

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