Wedbush reaffirmed their hold rating on shares of Glu Mobile (NASDAQ:GLUU) in a report released on Wednesday morning. The brokerage currently has a $7.00 price target on the stock. Wedbush also issued estimates for Glu Mobile’s Q4 2018 earnings at $0.03 EPS and Q3 2019 earnings at $0.05 EPS.
GLUU has been the topic of several other research reports. BidaskClub cut shares of Glu Mobile from a buy rating to a hold rating in a research report on Wednesday, August 1st. Roth Capital cut shares of Glu Mobile from a buy rating to a neutral rating in a research report on Monday, October 8th. Zacks Investment Research raised shares of Glu Mobile from a hold rating to a buy rating and set a $6.75 price target on the stock in a research report on Tuesday, August 7th. Finally, Stifel Nicolaus raised their price target on shares of Glu Mobile from $6.50 to $7.00 and gave the company a buy rating in a research report on Wednesday, August 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Glu Mobile presently has a consensus rating of Buy and a consensus price target of $7.05.
NASDAQ GLUU traded down $0.08 during trading hours on Wednesday, hitting $8.07. The company’s stock had a trading volume of 2,845,046 shares, compared to its average volume of 3,956,826. Glu Mobile has a 52 week low of $3.02 and a 52 week high of $8.42. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -15.82, a PEG ratio of 6.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 1.16.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Glu Mobile had a negative net margin of 14.65% and a negative return on equity of 19.63%. The business had revenue of $99.30 million for the quarter, compared to analysts’ expectations of $96.14 million. During the same quarter last year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, sell-side analysts predict that Glu Mobile will post 0.09 EPS for the current year.
In other Glu Mobile news, COO Eric R. Ludwig sold 142,500 shares of the stock in a transaction dated 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 the SEC website. Also, CRO Chris Akhavan sold 39,903 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $8.09, for a total transaction of $322,815.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 371,713 shares of company stock worth $2,622,978. 5.80% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Glu Mobile by 6.4% in the 2nd quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock valued at $49,374,000 after buying an additional 460,693 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Glu Mobile by 14,199.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock valued at $23,774,000 after buying an additional 3,168,975 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Glu Mobile by 31.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,948,495 shares of the company’s stock valued at $7,346,000 after buying an additional 462,526 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Glu Mobile by 13.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,438,681 shares of the company’s stock valued at $9,222,000 after buying an additional 170,912 shares during the last quarter. Finally, Northern Trust Corp increased its stake in 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 buying an additional 165,276 shares during the last quarter. Hedge funds and other institutional investors own 54.15% 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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