Glu Mobile Inc. (NASDAQ:GLUU) shares gapped down before the market opened on Monday . The stock had previously closed at $7.55, but opened at $7.20. Glu Mobile shares last traded at $6.31, with a volume of 5689108 shares trading hands.
A number of research firms recently commented on GLUU. Zacks Investment Research lowered shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. Wedbush set a $7.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a research report on Thursday, July 26th. BidaskClub lowered shares of Glu Mobile from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 24th. Roth Capital lowered shares of Glu Mobile from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price target on shares of Glu Mobile from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. 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 a consensus rating of “Buy” and an average target price of $6.38.
The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $1.06 billion, a PE ratio of -11.94, a P/E/G ratio of 6.21 and a beta of 1.16.
Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Tuesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.08). The business had revenue of $90.20 million during the quarter, compared to analyst estimates of $91.56 million. Glu Mobile had a negative return on equity of 26.30% and a negative net margin of 18.88%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. As a group, research analysts forecast that Glu Mobile Inc. will post 0.08 earnings per share for the current fiscal year.
In related news, COO Eric R. Ludwig sold 142,500 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $7.32, for a total value of $1,043,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott Leichtner sold 105,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $6.20, for a total transaction of $651,000.00. Following the completion of the transaction, the vice president now directly owns 268,338 shares of the company’s stock, valued at approximately $1,663,695.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,500 shares of company stock worth $1,855,600. 5.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System boosted its stake in Glu Mobile by 1.1% in the 1st quarter. California Public Employees Retirement System now owns 908,986 shares of the company’s stock worth $3,427,000 after purchasing an additional 10,248 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Glu Mobile by 42.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,187 shares of the company’s stock worth $232,000 after purchasing an additional 10,832 shares during the period. Prudential Financial Inc. boosted its stake in Glu Mobile by 16.6% in the 1st quarter. Prudential Financial Inc. now owns 79,264 shares of the company’s stock worth $299,000 after purchasing an additional 11,300 shares during the period. BlueMountain Capital Management LLC boosted its stake in Glu Mobile by 11.4% in the 2nd quarter. BlueMountain Capital Management LLC now owns 148,995 shares of the company’s stock worth $955,000 after purchasing an additional 15,274 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Glu Mobile by 12.7% in the 1st quarter. Wells Fargo & Company MN now owns 171,138 shares of the company’s stock worth $645,000 after purchasing an additional 19,276 shares during the period. 54.17% of the stock is owned by hedge funds and other institutional investors.
About Glu Mobile (NASDAQ:GLUU)
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 in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.
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