Glu Mobile (GLUU) Reaches New 1-Year High at $9.75

Shares of Glu Mobile Inc. (NASDAQ:GLUU) reached a new 52-week high on Friday . The stock traded as high as $9.75 and last traded at $9.77, with a volume of 119489 shares changing hands. The stock had previously closed at $9.56.

Several brokerages have recently commented on GLUU. Cowen increased their price objective on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research report on Monday, December 10th. Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 1st. Stephens began coverage on Glu Mobile in a research report on Thursday, January 10th. They set an “overweight” rating and a $10.50 price objective on the stock. Finally, Wedbush reiterated a “hold” rating and set a $7.00 price objective on shares of Glu Mobile in a research report on Wednesday, November 7th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $8.21.

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.02.

Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Glu Mobile had a negative return on equity of 19.28% and a negative net margin of 14.65%. The business had revenue of $99.30 million for the quarter, compared to analyst estimates of $96.14 million. During the same period last year, the company earned ($0.09) EPS. Glu Mobile’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, research analysts predict that Glu Mobile Inc. will post 0.1 EPS for the current year.

In other Glu Mobile news, CRO Chris Akhavan sold 39,903 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $8.09, for a total value of $322,815.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin T. Iv Smith sold 179,595 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $7.37, for a total value of $1,323,615.15. Following the completion of the sale, the director now owns 189,595 shares of the company’s stock, valued at approximately $1,397,315.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 308,808 shares of company stock valued at $2,272,494. Company insiders own 5.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC lifted its holdings in Glu Mobile by 3.1% in the 3rd quarter. Teachers Advisors LLC now owns 214,353 shares of the company’s stock worth $1,597,000 after buying an additional 6,487 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of Glu Mobile by 42.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,187 shares of the company’s stock valued at $232,000 after purchasing an additional 10,832 shares during the period. Credit Suisse AG lifted its stake in shares of Glu Mobile by 15.8% in the 3rd quarter. Credit Suisse AG now owns 80,209 shares of the company’s stock valued at $598,000 after purchasing an additional 10,949 shares during the period. Fusion Family Wealth LLC lifted its stake in shares of Glu Mobile by 80.0% in the 3rd quarter. Fusion Family Wealth LLC now owns 45,000 shares of the company’s stock valued at $335,000 after purchasing an additional 20,000 shares during the period. Finally, First Mercantile Trust Co. lifted its stake in shares of Glu Mobile by 44.4% in the 3rd quarter. First Mercantile Trust Co. now owns 70,353 shares of the company’s stock valued at $524,000 after purchasing an additional 21,640 shares during the period. Institutional investors and hedge funds own 56.31% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2019/01/20/glu-mobile-gluu-reaches-new-1-year-high-at-9-75.html.

Glu Mobile Company Profile (NASDAQ:GLUU)

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.

Featured Article: Why Net Income is Important to Investors

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