Glu Mobile Inc. (GLUU) Trading 5.7% Higher
Glu Mobile Inc. (NASDAQ:GLUU) shares traded up 5.7% on Thursday . The company traded as high as $4.10 and last traded at $4.09. 4,650,525 shares changed hands during trading, an increase of 1% from the average session volume of 4,583,457 shares. The stock had previously closed at $3.87.
A number of research analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $4.50 price target (up from $3.30) on shares of Glu Mobile in a research report on Tuesday, October 31st. Canaccord Genuity reaffirmed a “hold” rating and set a $3.00 price target on shares of Glu Mobile in a research report on Monday, October 30th. Wedbush set a $5.00 price target on shares of Glu Mobile and gave the company a “hold” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research report on Thursday, October 5th. Finally, Roth Capital reissued a “buy” rating and set a $4.75 target price (up from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $3.97.
The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03.
Glu Mobile (NASDAQ:GLUU) last released its earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. The business had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.67 million. During the same quarter in the previous year, the firm earned ($0.33) EPS. The firm’s revenue for the quarter was up 57.8% on a year-over-year basis. research analysts anticipate that Glu Mobile Inc. will post -0.18 EPS for the current year.
In related news, COO Eric R. Ludwig sold 160,000 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $3.67, for a total value of $587,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eric R. Ludwig sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $3.43, for a total transaction of $85,750.00. Following the completion of the sale, the chief operating officer now directly owns 82,000 shares of the company’s stock, valued at approximately $281,260. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,221,422 shares of company stock valued at $5,141,341. Corporate insiders own 5.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GLUU. Bank of New York Mellon Corp lifted its holdings in Glu Mobile by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 491,866 shares of the company’s stock worth $1,116,000 after purchasing an additional 15,866 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Glu Mobile by 140.8% in the first quarter. UBS Asset Management Americas Inc. now owns 73,207 shares of the company’s stock worth $166,000 after purchasing an additional 42,800 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in Glu Mobile in the first quarter worth about $184,000. American International Group Inc. lifted its holdings in Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after purchasing an additional 4,196 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Glu Mobile by 8.0% in the 1st quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock valued at $10,595,000 after acquiring an additional 344,727 shares during the last quarter. 35.48% of the stock is owned by institutional investors and hedge funds.
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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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