A number of other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Glu Mobile from a sell rating to a hold rating in a research note on Tuesday, August 9th. Wedbush reduced their price target on shares of Glu Mobile from $2.65 to $2.45 and set a neutral rating for the company in a research note on Friday, July 29th. Roth Capital restated a neutral rating and set a $2.00 target price (down from $2.50) on shares of Glu Mobile in a research report on Friday, August 5th. Finally, Northland Securities lowered shares of Glu Mobile from an outperform rating to a market perform rating in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $3.41.
Shares of Glu Mobile (NASDAQ:GLUU) traded up 0.4440% during trading on Tuesday, hitting $2.2399. 188,727 shares of the stock were exchanged. The stock’s market cap is $297.90 million. Glu Mobile has a 52-week low of $1.98 and a 52-week high of $4.45. The firm has a 50 day moving average of $2.26 and a 200-day moving average of $2.44.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Glu Mobile had a negative net margin of 12.90% and a negative return on equity of 4.78%. The firm earned $48.40 million during the quarter, compared to analyst estimates of $47.25 million. During the same period in the previous year, the business posted $0.01 earnings per share. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. Equities research analysts anticipate that Glu Mobile will post ($0.15) earnings per share for the current fiscal year.
In other Glu Mobile news, CFO Eric R. Ludwig sold 26,119 shares of Glu Mobile stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $2.32, for a total transaction of $60,596.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Gregory J. Cannon sold 55,000 shares of Glu Mobile stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $2.50, for a total transaction of $137,500.00. Following the transaction, the vice president now directly owns 83,771 shares in the company, valued at approximately $209,427.50. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its position in shares of Glu Mobile by 107.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 46,073 shares of the company’s stock valued at $101,000 after buying an additional 23,910 shares in the last quarter. Penserra Capital Management LLC increased its position in Glu Mobile by 35.4% in the second quarter. Penserra Capital Management LLC now owns 58,024 shares of the company’s stock valued at $128,000 after buying an additional 15,160 shares during the period. Creative Planning increased its position in Glu Mobile by 27.6% in the second quarter. Creative Planning now owns 62,500 shares of the company’s stock valued at $138,000 after buying an additional 13,500 shares during the period. Bayesian Capital Management LP bought a new position in Glu Mobile during the first quarter valued at approximately $140,000. Finally, Paloma Partners Management Co bought a new position in Glu Mobile during the second quarter valued at approximately $140,000. 28.08% of the stock is currently owned by institutional investors and hedge funds.
Glu Mobile Company Profile
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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