Shares of Glu Mobile Inc. (NASDAQ:GLUU) have received an average recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $8.38.
Several research analysts recently weighed in on GLUU shares. Stephens set a $12.00 price objective on Glu Mobile and gave the stock a “buy” rating in a research report on Thursday, June 6th. BidaskClub upgraded Glu Mobile from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Piper Jaffray Companies lowered their price objective on Glu Mobile from $12.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Benchmark lowered their price target on Glu Mobile from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research report on Wednesday, August 7th.
In other news, Director Greg Brandeau sold 4,166 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $7.10, for a total value of $29,578.60. Following the sale, the director now directly owns 41,664 shares in the company, valued at $295,814.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $7.75, for a total value of $56,262,892.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,268,064 shares of company stock valued at $56,322,745. Company insiders own 6.84% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Glu Mobile by 31.4% in the first quarter. JPMorgan Chase & Co. now owns 4,292,458 shares of the company’s stock valued at $46,960,000 after buying an additional 1,026,230 shares in the last quarter. Emerald Advisers LLC raised its stake in Glu Mobile by 15.9% in the second quarter. Emerald Advisers LLC now owns 2,733,514 shares of the company’s stock valued at $19,627,000 after buying an additional 374,859 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Glu Mobile by 16.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,493,485 shares of the company’s stock valued at $17,903,000 after buying an additional 353,391 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Glu Mobile by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,953,254 shares of the company’s stock valued at $15,763,000 after buying an additional 10,425 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Glu Mobile by 13.8% in the fourth quarter. Geode Capital Management LLC now owns 1,683,961 shares of the company’s stock valued at $13,589,000 after buying an additional 203,624 shares in the last quarter. Institutional investors and hedge funds own 59.02% of the company’s stock.
Glu Mobile stock traded down $0.11 during mid-day trading on Thursday, hitting $4.65. The company’s stock had a trading volume of 2,580,427 shares, compared to its average volume of 2,705,868. The firm has a market cap of $729.17 million, a price-to-earnings ratio of -58.13, a PEG ratio of 3.16 and a beta of 0.84. Glu Mobile has a 1 year low of $4.30 and a 1 year high of $11.75. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $6.74.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $101.90 million during the quarter, compared to analyst estimates of $100.93 million. Glu Mobile had a return on equity of 3.43% and a net margin of 0.41%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, analysts predict that Glu Mobile will post 0.11 earnings per share for the current fiscal year.
Glu Mobile Company Profile
Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles primarily in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.
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