Glu Mobile Target of Unusually High Options Trading (GLUU)

Glu Mobile Inc. (NASDAQ:GLUU) was the recipient of unusually large options trading on Monday. Traders purchased 5,489 call options on the stock. This is an increase of approximately 1,182% compared to the average volume of 428 call options.

NASDAQ:GLUU opened at $6.31 on Tuesday. Glu Mobile has a 52-week low of $3.02 and a 52-week high of $7.80. The company has a market cap of $1.06 billion, a P/E ratio of -12.37, a PEG ratio of 6.21 and a beta of 1.16. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Tuesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.08). Glu Mobile had a negative net margin of 18.88% and a negative return on equity of 26.30%. The company had revenue of $90.20 million during the quarter, compared to analysts’ expectations of $91.56 million. During the same quarter last year, the business posted ($0.17) earnings per share. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, research analysts expect that Glu Mobile will post 0.08 EPS for the current fiscal year.

A number of equities research analysts have issued reports on GLUU shares. BidaskClub raised Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 14th. Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Roth Capital downgraded Glu Mobile from a “buy” rating to a “neutral” rating in a research note on Monday. Piper Jaffray Companies started coverage on Glu Mobile in a research note on Friday, June 15th. They set an “overweight” rating and a $7.50 price target on the stock. Finally, Wedbush set a $7.00 price target on Glu Mobile and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $6.38.

In related news, VP Scott Leichtner sold 105,000 shares of the stock in a transaction dated Wednesday, July 11th. The stock was sold at an average price of $6.20, for a total transaction of $651,000.00. Following the transaction, the vice president now owns 268,338 shares of the company’s stock, valued at approximately $1,663,695.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Eric R. Ludwig sold 142,500 shares of the stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $7.32, for a total value of $1,043,100.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 272,500 shares of company stock worth $1,855,600. 5.80% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new position in shares of Glu Mobile in the 3rd quarter valued at approximately $254,000. Northern Trust Corp grew its stake in shares of Glu Mobile by 14.3% in the 2nd quarter. Northern Trust Corp now owns 1,321,499 shares of the company’s stock valued at $8,471,000 after purchasing an additional 165,276 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Glu Mobile by 34.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 650,254 shares of the company’s stock valued at $4,168,000 after purchasing an additional 165,118 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Glu Mobile in the 2nd quarter valued at approximately $1,410,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Glu Mobile by 42.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 36,187 shares of the company’s stock valued at $232,000 after buying an additional 10,832 shares in the last quarter. Institutional investors own 54.17% of the company’s stock.

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 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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