Several other equities research analysts have also recently weighed in on GLUU. Piper Jaffray Companies reaffirmed an overweight rating and set a $435.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Tuesday, May 7th. Stephens set a $12.00 price objective on shares of Glu Mobile and gave the stock a buy rating in a research report on Thursday, June 6th. Wedbush set a $17.00 price objective on shares of Zumiez and gave the stock a sell rating in a research report on Friday, June 7th. ValuEngine raised shares of Vale from a sell rating to a hold rating in a research report on Tuesday. Finally, Zacks Investment Research cut shares of ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $9.92.
Shares of Glu Mobile stock traded up $0.03 during trading on Tuesday, reaching $7.46. The company’s stock had a trading volume of 203,509 shares, compared to its average volume of 2,135,685. The firm’s 50-day moving average price is $7.32. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -93.19, a PEG ratio of 2.59 and a beta of 0.80. Glu Mobile has a 52 week low of $5.08 and a 52 week high of $11.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.35 and a current ratio of 1.35.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Monday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.01. The company had revenue of $92.60 million during the quarter, compared to analysts’ expectations of $89.74 million. Glu Mobile had a negative net margin of 1.40% and a negative return on equity of 0.92%. Glu Mobile’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. On average, equities analysts forecast that Glu Mobile will post 0.19 EPS for the current year.
In other Glu Mobile news, Director Holdings Ltd Tencent sold 7,259,728 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $7.75, for a total transaction of $56,262,892.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg Brandeau sold 4,170 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $7.26, for a total value of $30,274.20. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $363,000. The disclosure for this sale can be found here. Insiders have sold 7,358,778 shares of company stock valued at $57,297,920 in the last ninety days. 6.84% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brookstone Capital Management raised its stake in Glu Mobile by 14.8% during the first quarter. Brookstone Capital Management now owns 17,053 shares of the company’s stock worth $187,000 after acquiring an additional 2,200 shares in the last quarter. Legal & General Group Plc raised its stake in Glu Mobile by 16.0% during the fourth quarter. Legal & General Group Plc now owns 21,602 shares of the company’s stock worth $174,000 after acquiring an additional 2,976 shares in the last quarter. Cim LLC raised its stake in Glu Mobile by 21.4% during the first quarter. Cim LLC now owns 21,485 shares of the company’s stock worth $235,000 after acquiring an additional 3,785 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Glu Mobile by 20.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 22,588 shares of the company’s stock worth $171,000 after acquiring an additional 3,846 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Glu Mobile during the first quarter worth about $49,000. 57.67% of the stock is owned by hedge funds and other institutional investors.
About Glu Mobile
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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