Glu Mobile (NASDAQ:GLUU) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday, ValuEngine reports.

GLUU has been the subject of several other research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $435.00 price target on shares of Regeneron Pharmaceuticals in a report on Tuesday, May 7th. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Stephens set a $12.00 price target on Glu Mobile and gave the company a “buy” rating in a report on Thursday, June 6th. Wedbush set a $17.00 price target on Zumiez and gave the company a “sell” rating in a report on Friday, June 7th. Finally, BidaskClub cut Xperi from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $9.92.

Glu Mobile stock opened at $7.30 on Tuesday. The firm has a 50 day moving average price of $7.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $1.08 billion, a PE ratio of -91.25, a price-to-earnings-growth ratio of 2.64 and a beta of 0.80. Glu Mobile has a 12 month low of $5.08 and a 12 month high of $11.75.

Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $92.60 million during the quarter, compared to analysts’ expectations of $89.74 million. Glu Mobile had a negative return on equity of 0.92% and a negative net margin of 1.40%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, sell-side analysts expect that Glu Mobile will post 0.19 earnings per share for the current year.

In other news, Director Greg Brandeau sold 4,166 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 41,664 shares of the company’s stock, valued at approximately $295,814.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was 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. In the last ninety days, insiders sold 7,358,778 shares of company stock valued at $57,297,920. Insiders own 6.84% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GLUU. JPMorgan Chase & Co. raised its holdings in shares of Glu Mobile by 31.4% in the 1st quarter. JPMorgan Chase & Co. now owns 4,292,458 shares of the company’s stock worth $46,960,000 after buying an additional 1,026,230 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of Glu Mobile in the 1st quarter worth approximately $10,446,000. Highbridge Capital Management LLC acquired a new position in shares of Glu Mobile in the 4th quarter worth approximately $6,410,000. Millennium Management LLC raised its holdings in shares of Glu Mobile by 42.5% in the 4th quarter. Millennium Management LLC now owns 2,296,034 shares of the company’s stock worth $18,529,000 after buying an additional 684,258 shares in the last quarter. Finally, Chartwell Investment Partners LLC acquired a new position in shares of Glu Mobile in the 1st quarter worth approximately $4,992,000. 57.67% of the stock is owned by institutional investors and hedge funds.

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 d├ęcor, 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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Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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