Glu Mobile (NASDAQ:GLUU) released its quarterly earnings results on Thursday. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01, Briefing.com reports. Glu Mobile had a net margin of 0.41% and a return on equity of 3.43%. The business had revenue of $101.90 million during the quarter, compared to analysts’ expectations of $100.93 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year.
Shares of Glu Mobile stock traded down $2.77 during trading on Friday, reaching $4.82. The company’s stock had a trading volume of 22,345,652 shares, compared to its average volume of 2,883,795. Glu Mobile has a 52-week low of $4.30 and a 52-week high of $11.75. The company has a market cap of $1.10 billion, a P/E ratio of -60.25, a price-to-earnings-growth ratio of 2.81 and a beta of 0.84. The firm has a 50-day simple moving average of $7.24. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16.
In other news, Director Greg Brandeau sold 4,166 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $7.10, for a total value of $29,578.60. Following the completion of the sale, the director now owns 41,664 shares of the company’s stock, valued at approximately $295,814.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $7.75, for a total transaction of $56,262,892.00. The disclosure for this sale can be found here. Insiders sold a total of 7,268,064 shares of company stock valued at $56,322,745 in the last ninety days. 6.84% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in GLUU. JPMorgan Chase & Co. boosted its position in Glu Mobile by 31.4% during the 1st quarter. JPMorgan Chase & Co. now owns 4,292,458 shares of the company’s stock valued at $46,960,000 after buying an additional 1,026,230 shares during the period. Two Sigma Advisers LP boosted its position in Glu Mobile by 50.9% during the 4th quarter. Two Sigma Advisers LP now owns 322,802 shares of the company’s stock valued at $2,605,000 after buying an additional 108,900 shares during the period. Nordea Investment Management AB boosted its position in Glu Mobile by 8.3% during the 4th quarter. Nordea Investment Management AB now owns 632,864 shares of the company’s stock valued at $5,108,000 after buying an additional 48,270 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Glu Mobile during the 4th quarter valued at $96,000. Finally, American Century Companies Inc. purchased a new stake in Glu Mobile during the 4th quarter valued at $2,296,000. 58.38% of the stock is owned by institutional investors.
A number of research firms have commented on GLUU. BidaskClub raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. ValuEngine cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies cut their price target on shares of Glu Mobile from $12.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Benchmark cut their price target on shares of Glu Mobile from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $9.08.
About Glu Mobile
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 primarily in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.
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