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Digital Turbine, Inc. (APPS): Greenhaven Road Capital Sees Potential in This “Interesting Platform Company”

In its Q1 2019 Investor Letter, Greenhaven Road Capital reported the quarterly return of more than 16% and shared its comments on several stocks in each portfolio, among which was Digital Turbine, Inc. (NASDAQ:APPS) as a new addition. If you are interested you can track down a copy of its letter here.  For Digital Turbine (APPS), the fund said the following:

NEW INVESTMENT –DIGITAL TURBINE

Digital Turbine (APPS) is an interesting platform company. As you have likely never heard of it or its business model, the write-up is longer and I have included it as an appendix to the letter. Suffice it to say, I think APPS has the opportunity to appreciate substantially.”

Digital Turbine, Inc. (APPS): Greenhaven Road Capital Sees Potential in This "Interesting Platform Company"

Kostenko Maxim/Shutterstock.com

Digital Turbine is a company that provides mobile marketing platform, which deliveres end-to-end soultions and products productively monetizeing mobile conent. Since the beginning of the year, the company’s stock gained 114.81%, having a closing price of $4.06 on May 6th. The company has a market cap of $332.34 million.

At the end of the fourth quarter, a total of 10 of the hedge funds tracked by Insider Monkey were long this stock, a change of 43% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards APPS over the last 14 quarters. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Peter A. Wright’s P.A.W. CAPITAL PARTNERS has the number one position in Digital Turbine Inc (NASDAQ:APPS), worth close to $2 million, corresponding to 2.5% of its total 13F portfolio. On P.A.W. CAPITAL PARTNERS’s heels is Adam Usdan of Trellus Management Company, with a $1.6 million position; the fund has 3.7% of its 13F portfolio invested in the stock. Some other professional money managers that are bullish encompass Thomas Bailard’s Bailard Inc, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and Benjamin A. Smith’s Laurion Capital Management.

APPS

Disclosure: None.

This article is originally published at Insider Monkey.

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