Glu Mobile (NASDAQ:GLUU) had its price objective trimmed by Wedbush from $9.00 to $8.00 in a report published on Friday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the stock.
A number of other equities analysts have also recently weighed in on GLUU. Zacks Investment Research raised shares of Glu Mobile from a sell rating to a hold rating in a research note on Wednesday, July 31st. Benchmark lowered their price objective on shares of Glu Mobile from $14.00 to $8.00 and set a buy rating on the stock in a research note on Friday. ValuEngine cut shares of Glu Mobile from a buy rating to a hold rating in a research note on Thursday. Piper Jaffray Companies lowered their price objective on shares of Glu Mobile from $12.00 to $7.00 and set an overweight rating on the stock in a research note on Friday. Finally, Stephens set a $12.00 price objective on shares of Glu Mobile and gave the company a buy rating in a research note on Thursday, June 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Glu Mobile currently has an average rating of Buy and a consensus price target of $9.08.
Shares of NASDAQ:GLUU traded up $0.27 on Friday, reaching $5.10. 4,241,398 shares of the company were exchanged, compared to its average volume of 2,883,795. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16. Glu Mobile has a 1-year low of $4.30 and a 1-year high of $11.75. The company has a market capitalization of $700.12 million, a price-to-earnings ratio of -63.69, a price-to-earnings-growth ratio of 1.79 and a beta of 0.84. The stock’s 50-day simple moving average is $7.24.
Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. 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 for the quarter, compared to analysts’ expectations of $100.93 million. During the same period in the prior year, the company posted ($0.03) EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts expect that Glu Mobile will post 0.18 earnings per share for the current year.
In related news, Director Holdings Ltd Tencent sold 7,259,728 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $7.75, for a total value of $56,262,892.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg Brandeau sold 4,166 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $7.10, for a total transaction of $29,578.60. Following the completion of the sale, the director now directly owns 41,664 shares in the company, valued at $295,814.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,268,064 shares of company stock worth $56,322,745. 6.84% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Chicago Equity Partners LLC acquired a new stake in shares of Glu Mobile during the second quarter worth approximately $273,000. Hillsdale Investment Management Inc. lifted its stake in Glu Mobile by 15.9% in the second quarter. Hillsdale Investment Management Inc. now owns 75,200 shares of the company’s stock valued at $540,000 after buying an additional 10,300 shares during the last quarter. Swiss National Bank lifted its stake in Glu Mobile by 2.2% in the second quarter. Swiss National Bank now owns 213,300 shares of the company’s stock valued at $1,531,000 after buying an additional 4,500 shares during the last quarter. Wedbush Securities Inc. bought a new stake in Glu Mobile in the second quarter valued at $75,000. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in Glu Mobile by 16.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,493,485 shares of the company’s stock valued at $17,903,000 after buying an additional 353,391 shares during the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
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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