Glu Mobile (NASDAQ:GLUU) had its price target decreased by investment analysts at Wedbush from $8.00 to $7.50 in a note issued to investors on Thursday, November 7th, AnalystRatings.com reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target indicates a potential upside of 32.51% from the stock’s current price.
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Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $6.50 target price on shares of Glu Mobile in a research note on Tuesday, September 24th. Stephens set a $8.00 target price on shares of Glu Mobile and gave the stock a “buy” rating in a research note on Friday, September 6th. Zacks Investment Research downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, DA Davidson initiated coverage on shares of Glu Mobile in a research note on Tuesday, September 24th. They issued a “buy” rating and a $8.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. Glu Mobile presently has a consensus rating of “Buy” and a consensus target price of $7.53.
GLUU stock traded up $0.02 during mid-day trading on Thursday, hitting $5.66. The company had a trading volume of 1,929,600 shares, compared to its average volume of 2,978,422. The company has a market capitalization of $822.23 million, a price-to-earnings ratio of -70.75, a P/E/G ratio of 2.45 and a beta of 1.15. Glu Mobile has a 12-month low of $4.11 and a 12-month high of $11.75. The company has a 50-day moving average price of $5.63 and a 200 day moving average price of $6.55. The company has a quick ratio of 1.34, a current ratio of 1.32 and a debt-to-equity ratio of 0.21.
Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.13). Glu Mobile had a positive return on equity of 0.22% and a negative net margin of 0.82%. The business had revenue of $120.40 million for the quarter, compared to analyst estimates of $111.00 million. The business’s revenue was up 19.6% compared to the same quarter last year. As a group, analysts expect that Glu Mobile will post 0.15 EPS for the current year.
In other Glu Mobile news, Director Greg Brandeau sold 12,498 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $6.00, for a total transaction of $74,988.00. Following the completion of the transaction, the director now owns 29,166 shares in the company, valued at approximately $174,996. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott Leichtner sold 54,357 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $4.56, for a total transaction of $247,867.92. Following the transaction, the vice president now owns 252,669 shares of the company’s stock, valued at approximately $1,152,170.64. The disclosure for this sale can be found here. Insiders own 6.84% of the company’s stock.
Several institutional investors have recently modified their holdings of GLUU. DNB Asset Management AS acquired a new position in shares of Glu Mobile in the 3rd quarter valued at $17,010,000. Highline Capital Management L.P. acquired a new position in shares of Glu Mobile in the 2nd quarter valued at $22,276,000. Nuveen Asset Management LLC acquired a new position in shares of Glu Mobile in the 2nd quarter valued at $14,810,000. UBS Asset Management Americas Inc. boosted its holdings in shares of Glu Mobile by 1,558.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,270,193 shares of the company’s stock valued at $9,120,000 after buying an additional 1,193,594 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Glu Mobile by 283.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,365,573 shares of the company’s stock valued at $9,805,000 after buying an additional 1,009,790 shares in the last quarter. Institutional investors and hedge funds own 64.83% of the company’s stock.
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 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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