Shares of Glu Mobile Inc. (NASDAQ:GLUU) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the firm. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $3.14.
Several research firms have recently commented on GLUU. Wedbush lowered their price target on Glu Mobile from $2.65 to $2.45 and set a “neutral” rating for the company in a research report on Friday, July 29th. Roth Capital restated a “neutral” rating and set a $2.50 price target on shares of Glu Mobile in a research report on Thursday, July 28th. Zacks Investment Research lowered Glu Mobile from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Canaccord Genuity restated a “neutral” rating and set a $3.00 price target on shares of Glu Mobile in a research report on Friday, August 5th. Finally, Northland Securities lowered Glu Mobile from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 3rd.
In other news, VP Gregory J. Cannon sold 55,000 shares of Glu Mobile stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $2.50, for a total transaction of $137,500.00. Following the sale, the vice president now owns 83,771 shares in the company, valued at $209,427.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric R. Ludwig sold 26,119 shares of Glu Mobile stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $2.32, for a total value of $60,596.08. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of GLUU. Jacobs Levy Equity Management Inc. purchased a new stake in Glu Mobile during the first quarter worth approximately $978,000. Bayesian Capital Management LP purchased a new stake in Glu Mobile during the first quarter worth approximately $140,000. GSA Capital Partners LLP purchased a new stake in Glu Mobile during the second quarter worth approximately $564,000. Menta Capital LLC purchased a new stake in Glu Mobile during the first quarter worth approximately $232,000. Finally, Creative Planning boosted its stake in Glu Mobile by 27.6% in the second quarter. Creative Planning now owns 62,500 shares of the company’s stock worth $138,000 after buying an additional 13,500 shares during the period. Institutional investors and hedge funds own 28.08% of the company’s stock.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 2.18 on Tuesday. The firm’s 50-day moving average price is $2.25 and its 200 day moving average price is $2.47. The stock’s market cap is $289.93 million. Glu Mobile has a 1-year low of $1.98 and a 1-year high of $4.45.
Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Glu Mobile had a negative return on equity of 4.78% and a negative net margin of 12.90%. The business earned $48.40 million during the quarter, compared to analyst estimates of $47.25 million. During the same period last year, the business posted $0.01 earnings per share. The company’s quarterly revenue was down 13.9% on a year-over-year basis. On average, equities analysts expect that Glu Mobile will post ($0.15) earnings per share for the current fiscal year.
About Glu Mobile
Glu Mobile Inc develops, publishes and markets a portfolio of games. The Company’s games appeal to a cross section of the users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts. It operates through mobile games segment. It operates in various geographical regions, including the United States; Americas, excluding the United States; Europe, the Middle East and Africa (EMEA), and Asia Pacific.
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