BidaskClub Lowers Glu Mobile (GLUU) to Hold

BidaskClub cut shares of Glu Mobile (NASDAQ:GLUU) from a buy rating to a hold rating in a research note issued to investors on Thursday.

GLUU has been the topic of several other reports. Zacks Investment Research lowered Glu Mobile from a buy rating to a hold rating in a research report on Wednesday, November 14th. Wedbush set a $7.00 price target on Glu Mobile and gave the company a hold rating in a research report on Thursday, July 26th. Roth Capital lowered Glu Mobile from a buy rating to a neutral rating in a research report on Monday, October 8th. Finally, Stifel Nicolaus upped their price target on Glu Mobile from $6.50 to $7.00 and gave the company a buy rating in a research report on Wednesday, August 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $7.50.

Shares of GLUU opened at $6.77 on Thursday. Glu Mobile has a 52-week low of $3.02 and a 52-week high of $8.42. 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, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The business had revenue of $99.30 million for the quarter, compared to analyst estimates of $96.14 million. Glu Mobile had a negative return on equity of 19.28% and a negative net margin of 14.65%. The business’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) EPS. Analysts anticipate that Glu Mobile will post 0.1 earnings per share for the current fiscal year.

In related news, Director Ann Mather sold 100,000 shares of the company’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the completion of the transaction, the director now directly owns 103,666 shares in the company, valued at approximately $654,132.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Masi Niccolo De sold 89,310 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $7.01, for a total value of $626,063.10. Following the transaction, the insider now owns 766,669 shares of the company’s stock, valued at $5,374,349.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,713 shares of company stock worth $2,622,978. Corporate insiders own 5.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Glu Mobile by 9.9% during the 3rd quarter. Vanguard Group Inc. now owns 10,792,797 shares of the company’s stock worth $80,407,000 after buying an additional 975,586 shares during the last quarter. BlackRock Inc. grew its stake in Glu Mobile by 6.4% during the 2nd quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock worth $49,374,000 after buying an additional 460,693 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Glu Mobile by 14,199.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock worth $23,774,000 after buying an additional 3,168,975 shares during the last quarter. Northern Trust Corp grew its stake in Glu Mobile by 14.3% during the 2nd quarter. Northern Trust Corp now owns 1,321,499 shares of the company’s stock worth $8,471,000 after buying an additional 165,276 shares during the last quarter. Finally, Columbus Circle Investors grew its stake in Glu Mobile by 27.2% during the 3rd quarter. Columbus Circle Investors now owns 1,253,830 shares of the company’s stock worth $9,341,000 after buying an additional 267,844 shares during the last quarter. Hedge funds and other institutional investors own 58.32% 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 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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Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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