Glu Mobile Inc. (NASDAQ:GLUU) insider Masi Niccolo De sold 89,310 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $7.01, for a total transaction of $626,063.10. Following the transaction, the insider now owns 766,669 shares of the company’s stock, valued at approximately $5,374,349.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Glu Mobile stock traded up $1.16 during trading on Wednesday, hitting $8.10. 9,811,437 shares of the stock were exchanged, compared to its average volume of 2,314,816. The firm has a market capitalization of $1.02 billion, a P/E ratio of -15.88, a P/E/G ratio of 6.02 and a beta of 1.03. Glu Mobile Inc. has a 12 month low of $3.02 and a 12 month high of $8.42. 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 posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $99.30 million during the quarter, compared to the consensus estimate of $96.14 million. Glu Mobile had a negative net margin of 18.88% and a negative return on equity of 26.30%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. As a group, sell-side analysts forecast that Glu Mobile Inc. will post 0.08 earnings per share for the current year.
Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 14th. Wedbush set a $7.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a research report on Wednesday. Roth Capital lowered shares of Glu Mobile from a “buy” rating to a “neutral” rating in a research report on Monday, October 8th. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research report on Tuesday, August 7th. Finally, Stifel Nicolaus upped their price target on shares of Glu Mobile from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $7.05.
A number of hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY lifted its holdings in Glu Mobile by 42.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 36,187 shares of the company’s stock worth $232,000 after purchasing an additional 10,832 shares during the period. BlueMountain Capital Management LLC lifted its holdings in Glu Mobile by 11.4% in the second quarter. BlueMountain Capital Management LLC now owns 148,995 shares of the company’s stock worth $955,000 after purchasing an additional 15,274 shares during the period. Wells Fargo & Company MN lifted its holdings in Glu Mobile by 12.7% in the first quarter. Wells Fargo & Company MN now owns 171,138 shares of the company’s stock worth $645,000 after purchasing an additional 19,276 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Glu Mobile in the second quarter worth about $124,000. Finally, Fusion Family Wealth LLC lifted its holdings in Glu Mobile by 80.0% in the third quarter. Fusion Family Wealth LLC now owns 45,000 shares of the company’s stock worth $335,000 after purchasing an additional 20,000 shares during the period. 54.15% of the stock is owned by institutional investors and hedge funds.
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Glu Mobile Company Profile
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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