Glu Mobile Inc. (NASDAQ:GLUU) Director Eric R. Ball sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $3.94, for a total value of $19,700.00. Following the completion of the sale, the director now directly owns 75,000 shares in the company, valued at approximately $295,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Glu Mobile Inc. (NASDAQ:GLUU) traded down $0.10 on Monday, hitting $3.91. 4,658,763 shares of the stock were exchanged, compared to its average volume of 4,576,897. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09. Glu Mobile Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $4.73.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative return on equity of 35.19% and a negative net margin of 29.74%. The firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.67 million. During the same quarter last year, the business posted ($0.33) EPS. The firm’s revenue was up 57.8% compared to the same quarter last year. sell-side analysts expect that Glu Mobile Inc. will post -0.18 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lyon Street Capital LLC boosted its holdings in shares of Glu Mobile by 308.3% in the 3rd quarter. Lyon Street Capital LLC now owns 918,739 shares of the company’s stock valued at $3,454,000 after purchasing an additional 693,739 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Glu Mobile by 192.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,098,454 shares of the company’s stock valued at $4,130,000 after purchasing an additional 722,564 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Glu Mobile by 66.3% in the 3rd quarter. Wells Fargo & Company MN now owns 109,665 shares of the company’s stock valued at $412,000 after purchasing an additional 43,735 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Glu Mobile by 4,428.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 243,709 shares of the company’s stock valued at $899,000 after acquiring an additional 238,327 shares during the period. Finally, EAM Investors LLC purchased a new position in shares of Glu Mobile in the 3rd quarter valued at $2,327,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.
GLUU has been the topic of a number of recent research reports. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research report on Wednesday, September 6th. Stifel Nicolaus reiterated a “buy” rating and set a $4.50 target price (up previously from $3.30) on shares of Glu Mobile in a research note on Tuesday, October 31st. Canaccord Genuity restated a “hold” rating and issued a $3.00 price objective on shares of Glu Mobile in a research note on Monday, October 30th. Finally, ValuEngine downgraded shares of Glu Mobile from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $3.97.
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Glu Mobile Company Profile
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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