Glu Mobile Inc. (GLUU) Given “Hold” Rating at Canaccord Genuity
Several other equities analysts have also recently commented on GLUU. Zacks Investment Research cut Glu Mobile from a hold rating to a sell rating in a research report on Tuesday, July 4th. Stifel Nicolaus restated a buy rating and set a $2.80 target price on shares of Glu Mobile in a research report on Monday, July 10th. BidaskClub upgraded Glu Mobile from a buy rating to a strong-buy rating in a research report on Monday, July 24th. Roth Capital set a $4.00 target price on Glu Mobile and gave the stock a buy rating in a research report on Friday, July 28th. Finally, Wedbush restated a hold rating on shares of Glu Mobile in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $3.66.
Shares of Glu Mobile (NASDAQ:GLUU) traded down $0.12 during trading on Monday, reaching $3.77. The company’s stock had a trading volume of 2,943,459 shares, compared to its average volume of 5,098,468.
Glu Mobile (NASDAQ:GLUU) last posted its earnings results on Wednesday, November 1st. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative return on equity of 34.02% and a negative net margin of 29.74%. The business had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.67 million. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. Glu Mobile’s quarterly revenue was up 57.8% compared to the same quarter last year. equities research analysts anticipate that Glu Mobile will post -0.19 earnings per share for the current fiscal year.
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In other news, COO Eric R. Ludwig sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $3.43, for a total value of $85,750.00. Following the completion of the sale, the chief operating officer now owns 82,000 shares of the company’s stock, valued at approximately $281,260. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Hany Nada sold 766,456 shares of the business’s stock in a transaction dated 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 sold a total of 1,100,456 shares of company stock valued at $4,657,547 over the last quarter. Company insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X MANAGEMENT CO LLC lifted its stake in shares of Glu Mobile by 16.1% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 135,172 shares of the company’s stock valued at $508,000 after acquiring an additional 18,704 shares during the last quarter. IHT Wealth Management LLC bought a new stake in shares of Glu Mobile in the 2nd quarter valued at about $592,000. State Street Corp lifted its stake in shares of Glu Mobile by 6.7% in the 2nd quarter. State Street Corp now owns 1,914,877 shares of the company’s stock valued at $4,791,000 after acquiring an additional 120,550 shares during the last quarter. ETF Managers Group LLC bought a new stake in shares of Glu Mobile in the 2nd quarter valued at about $1,099,000. Finally, Lyon Street Capital LLC bought a new stake in shares of Glu Mobile in the 2nd quarter valued at about $563,000. 35.08% of the stock is owned by institutional investors.
Glu Mobile Company Profile
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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