Analysts Set Glu Mobile Inc. (GLUU) Target Price at $3.93

Glu Mobile Inc. (NASDAQ:GLUU) has earned an average recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.93.

GLUU has been the topic of several recent research reports. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a report on Thursday, August 24th. ValuEngine downgraded Glu Mobile from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub downgraded Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday. Roth Capital reissued a “buy” rating and issued a $4.75 price target (up previously from $4.00) on shares of Glu Mobile in a report on Monday, September 18th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $3.00 price target on shares of Glu Mobile in a report on Monday, October 30th.

Shares of Glu Mobile (NASDAQ GLUU) traded down $0.50 during midday trading on Friday, hitting $3.56. The company had a trading volume of 8,482,055 shares, compared to its average volume of 4,583,939. Glu Mobile has a 1-year low of $1.85 and a 1-year high of $4.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.67 million. Glu Mobile had a negative return on equity of 35.19% and a negative net margin of 29.74%. The company’s revenue for the quarter was up 57.8% on a year-over-year basis. During the same period last year, the business posted ($0.33) EPS. research analysts forecast that Glu Mobile will post -0.18 earnings per share for the current year.

In other news, COO Eric R. Ludwig sold 33,000 shares of Glu Mobile stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $3.90, for a total transaction of $128,700.00. Following the transaction, the chief operating officer now directly owns 72,000 shares in the company, valued at approximately $280,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Eric R. Ludwig sold 160,000 shares of Glu Mobile stock in a transaction on Monday, October 9th. The shares were sold at an average price of $3.67, for a total value of $587,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,196,422 shares of company stock worth $5,055,591. 5.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Glu Mobile by 8.0% in the 1st quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock worth $10,595,000 after acquiring an additional 344,727 shares during the last quarter. Northern Right Capital Management L.P. grew its holdings in shares of Glu Mobile by 109.9% in the 2nd quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after acquiring an additional 1,444,816 shares during the last quarter. State Street Corp boosted its position in shares of Glu Mobile by 6.7% in the second quarter. State Street Corp now owns 1,914,877 shares of the company’s stock worth $4,791,000 after buying an additional 120,550 shares during the period. Northern Trust Corp boosted its position in shares of Glu Mobile by 1.8% in the second quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock worth $2,857,000 after buying an additional 20,300 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Glu Mobile by 192.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,098,454 shares of the company’s stock worth $4,130,000 after buying an additional 722,564 shares during the period. Institutional investors and hedge funds own 35.54% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Analysts Set Glu Mobile Inc. (GLUU) Target Price at $3.93” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was illegally stolen and reposted in violation of international copyright legislation. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/01/11/analysts-set-glu-mobile-inc-gluu-target-price-at-3-93.html.

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.

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

Receive News & Ratings for Glu Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply