Glu Mobile (NASDAQ:GLUU) had its price target lowered by analysts at Wedbush from $8.00 to $7.50 in a report issued on Thursday, AnalystRatings.com reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 29.09% from the stock’s previous close.
Several other brokerages also recently weighed in on GLUU. Benchmark raised Glu Mobile to a “buy” rating and set a $8.00 target price on the stock in a research note on Tuesday, September 10th. Roth Capital raised Glu Mobile from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Wednesday, September 11th. Stephens set a $8.00 target price on Glu Mobile and gave the company a “buy” rating in a research note on Friday, September 6th. DA Davidson initiated coverage on Glu Mobile in a research note on Tuesday, September 24th. They set a “buy” rating and a $8.00 target price on the stock. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $6.50 target price on shares of Glu Mobile in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $7.53.
Shares of NASDAQ:GLUU traded up $0.34 during mid-day trading on Thursday, hitting $5.81. 1,832,100 shares of the company traded hands, compared to its average volume of 2,908,877. The firm’s 50 day simple moving average is $5.55 and its 200 day simple moving average is $6.71. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $866.56 million, a P/E ratio of -72.63, a PEG ratio of 3.71 and a beta of 1.15. Glu Mobile has a 52-week low of $4.11 and a 52-week high of $11.75.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.13). The business had revenue of $120.40 million for the quarter, compared to the consensus estimate of $111.00 million. Glu Mobile had a net margin of 0.41% and a return on equity of 3.39%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. Equities research analysts expect that Glu Mobile will post 0.11 EPS for the current fiscal year.
In other news, Director Greg Brandeau sold 12,498 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $6.00, for a total value of $74,988.00. Following the sale, the director now owns 29,166 shares of the company’s stock, valued at approximately $174,996. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott Leichtner sold 54,357 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $4.56, for a total value of $247,867.92. Following the completion of the sale, the vice president now directly owns 252,669 shares in the company, valued at approximately $1,152,170.64. The disclosure for this sale can be found here. 6.84% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Aperio Group LLC bought a new stake in shares of Glu Mobile in the 2nd quarter worth $56,000. Wedbush Securities Inc. bought a new stake in shares of Glu Mobile in the 2nd quarter worth $75,000. Stansberry Asset Management LLC bought a new stake in shares of Glu Mobile in the 2nd quarter worth $77,000. Bank of Montreal Can raised its stake in shares of Glu Mobile by 491.7% in the 2nd quarter. Bank of Montreal Can now owns 11,526 shares of the company’s stock worth $83,000 after buying an additional 9,578 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Glu Mobile by 14.8% in the 2nd quarter. Creative Planning now owns 11,650 shares of the company’s stock worth $84,000 after buying an additional 1,500 shares in the last quarter. 65.43% of the stock is currently owned by institutional investors.
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 décor, 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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