Michelle Sterling, a director at Digital Turbine (APPS), recently added 1,000 shares. The buy increased her stake by 2.6 percent, and came to a total purchase price of just under $37,000.
This marks the first insider buy of the year. Insiders were last active buying shares at higher prices in November and December last year. The buys have been overshadowed by a sale from the company CEO earlier this month. Over the past three years, however, insider buys have exceeded insider sales.
Overall, company insiders own 3.1 percent of shares.
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The targeted advertising company has seen shares get cut in half over the past year, as earnings have also slid by nearly half, even as revenues have surged nearly 324 percent.
Action to take: Trading at 22 times forward earnings, shares are inexpensive relative to their historical average. As long as the company can work on improving earnings and continue with its high revenue growth, shares should likely rebound and move higher in time. That makes the stock a solid rebound play for today’s market environment, although the stock doesn’t yet pay a dividend.
For traders, the June $45 calls, last going for about $3.75, look like a reasonable play for a rebound in shares in the coming months. Traders can likely nab mid-to-high double-digit gains.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.