Glu Mobile Inc. (GLUU) Cut to “Sell” at Zacks Investment Research
According to Zacks, “GLU MOBILE INC., is a leading global publisher of mobile games. Its portfolio of top-rated games includes original titles Super K.O. Boxing!, Stranded and Brain Genius, and titles based on major brands from partners including Atari, Activision, Konami, Harrah’s, Hasbro, Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony. Glu is based in San Mateo, Calif. and has offices in London, France, Germany, Spain, Italy, Sweden, Poland, Russia, Hong Kong, China, Brazil, Chile, Canada and San Clemente, Calif. “
Several other equities analysts have also weighed in on GLUU. Roth Capital set a $2.00 price objective on shares of Glu Mobile and gave the company a hold rating in a report on Sunday, October 30th. Wedbush reissued a neutral rating and set a $2.25 target price on shares of Glu Mobile in a research report on Tuesday, February 7th. Mizuho assumed coverage on shares of Glu Mobile in a research report on Thursday, December 22nd. They set a neutral rating and a $2.30 target price for the company. Canaccord Genuity reissued a hold rating and set a $3.00 target price on shares of Glu Mobile in a research report on Tuesday, November 1st. Finally, Piper Jaffray Companies reissued an overweight rating and set a $3.00 target price on shares of Glu Mobile in a research report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $2.88.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 2.09 on Tuesday. Glu Mobile has a 12 month low of $1.73 and a 12 month high of $4.00. The firm’s market capitalization is $279.51 million. The firm’s 50-day moving average is $2.23 and its 200 day moving average is $2.18.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Wednesday, February 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.06. Glu Mobile had a negative net margin of 43.59% and a negative return on equity of 27.11%. The company had revenue of $46.30 million for the quarter, compared to analyst estimates of $47.04 million. During the same quarter in the prior year, the company posted $0.02 EPS. Glu Mobile’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, equities research analysts anticipate that Glu Mobile will post ($0.17) EPS for the current year.
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Several large investors have recently bought and sold shares of GLUU. Capital Advisors Inc. OK acquired a new stake in Glu Mobile during the third quarter valued at approximately $103,000. State Board of Administration of Florida Retirement System increased its stake in 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 during the last quarter. Penserra Capital Management LLC increased its stake in Glu Mobile by 111.5% in the third quarter. Penserra Capital Management LLC now owns 122,713 shares of the company’s stock valued at $274,000 after buying an additional 64,689 shares during the last quarter. Engineers Gate Manager LP increased its stake in Glu Mobile by 1,230.8% in the third quarter. Engineers Gate Manager LP now owns 137,707 shares of the company’s stock valued at $308,000 after buying an additional 127,359 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Glu Mobile during the second quarter valued at approximately $448,000. 26.56% of the stock is owned by institutional investors.
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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