Equities analysts forecast that Glu Mobile Inc. (NASDAQ:GLUU) will post earnings of ($0.03) per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Glu Mobile’s earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.03). Glu Mobile reported earnings of ($0.11) per share during the same quarter last year, which would suggest a positive year over year growth rate of 72.7%. The firm is expected to issue its next earnings report on Wednesday, February 14th.
On average, analysts expect that Glu Mobile will report full-year earnings of ($0.07) per share for the current financial year, with EPS estimates ranging from ($0.08) to ($0.06). For the next fiscal year, analysts forecast that the business will report earnings of $0.08 per share, with EPS estimates ranging from $0.05 to $0.12. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Glu Mobile.
Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 34.02%. The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.67 million. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. Glu Mobile’s revenue for the quarter was up 57.8% on a year-over-year basis.
GLUU has been the topic of several research reports. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Thursday, August 31st. BidaskClub upgraded shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Roth Capital reiterated a “buy” rating and issued a $4.00 price objective on shares of Glu Mobile in a report on Tuesday, September 5th. Finally, Wedbush set a $5.00 price objective on shares of Glu Mobile and gave the company a “hold” rating in a report on Wednesday, October 18th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $3.66.
Glu Mobile (GLUU) traded down $0.08 during trading hours on Tuesday, hitting $3.63. 4,136,466 shares of the company’s stock traded hands, compared to its average volume of 4,260,000. Glu Mobile has a 12-month low of $1.77 and a 12-month high of $4.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.19 and a current ratio of 1.19.
In related news, insider Masi Niccolo De sold 131,966 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $3.70, for a total transaction of $488,274.20. Following the completion of the sale, the insider now owns 512,859 shares of the company’s stock, valued at $1,897,578.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric R. Ludwig sold 49,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $3.12, for a total transaction of $152,880.00. Following the sale, the chief operating officer now directly owns 68,250 shares of the company’s stock, valued at approximately $212,940. The disclosure for this sale can be found here. Insiders sold 1,232,422 shares of company stock worth $5,145,821 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in Glu Mobile by 125.4% during the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock worth $108,000 after purchasing an additional 26,535 shares during the period. Emerald Advisers Inc. PA bought a new stake in Glu Mobile during the second quarter worth about $141,000. Voya Investment Management LLC lifted its position in Glu Mobile by 19.2% during the second quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock worth $142,000 after purchasing an additional 9,186 shares during the period. American International Group Inc. lifted its position in Glu Mobile by 7.1% during the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after purchasing an additional 4,196 shares during the period. Finally, Capital Advisors Inc. OK lifted its position in Glu Mobile by 43.3% during the second quarter. Capital Advisors Inc. OK now owns 65,900 shares of the company’s stock worth $165,000 after purchasing an additional 19,900 shares during the period. 35.08% of the stock is owned by institutional investors and hedge funds.
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About Glu Mobile
Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.
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