Glu Mobile (GLUU) Stock Rating Lowered by Zacks Investment Research
Glu Mobile (NASDAQ:GLUU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
A number of other equities analysts have also recently commented on GLUU. Roth Capital set a $4.00 price target on Glu Mobile and gave the stock a “buy” rating in a research note on Thursday, August 17th. ValuEngine raised Glu Mobile from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Glu Mobile in a research note on Thursday, September 7th. Wedbush set a $5.00 price target on Glu Mobile and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $3.00 price target on shares of Glu Mobile in a research note on Monday, October 30th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Glu Mobile presently has a consensus rating of “Hold” and a consensus target price of $3.97.
Glu Mobile (NASDAQ GLUU) opened at $4.56 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09. Glu Mobile has a 1-year low of $1.85 and a 1-year high of $4.73.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.67 million. Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. The business’s quarterly revenue was up 57.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.33) earnings per share. equities research analysts predict that Glu Mobile will post -0.18 earnings per share for the current year.
In related news, COO Eric R. Ludwig sold 160,000 shares of Glu Mobile stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $3.67, for a total transaction of $587,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Hany Nada sold 766,456 shares of Glu Mobile stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $4.51, for a total value of $3,456,716.56. The disclosure for this sale can be found here. Insiders have sold 1,196,422 shares of company stock worth $5,055,591 over the last three months. Insiders own 5.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in shares of Glu Mobile by 113.6% during the second quarter. Bank of Montreal Can now owns 160,540 shares of the company’s stock valued at $401,000 after purchasing an additional 85,371 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Glu Mobile by 86.0% in the second quarter. GSA Capital Partners LLP now owns 351,800 shares of the company’s stock worth $880,000 after acquiring an additional 162,700 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Glu Mobile by 114.1% in the second quarter. Alliancebernstein L.P. now owns 191,000 shares of the company’s stock worth $478,000 after acquiring an additional 101,800 shares in the last quarter. Morgan Stanley boosted its holdings in Glu Mobile by 40.5% in the first quarter. Morgan Stanley now owns 713,836 shares of the company’s stock worth $1,620,000 after acquiring an additional 205,918 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in Glu Mobile in the second quarter worth $370,000. Institutional investors own 35.66% of the company’s stock.
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About Glu Mobile
Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.
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