Glu Mobile (GLUU) Receives New Coverage from Analysts at Stephens

Stephens started coverage on shares of Glu Mobile (NASDAQ:GLUU) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued an overweight rating and a $10.50 target price on the stock.

A number of other equities research analysts have also recently commented on GLUU. Zacks Investment Research upgraded shares of Glu Mobile from a hold rating to a buy rating and set a $9.00 price target for the company in a report on Wednesday, January 2nd. BidaskClub raised shares of Glu Mobile from a buy rating to a strong-buy rating in a research report on Tuesday, January 1st. Wedbush reissued a hold rating and set a $7.00 price target on shares of Glu Mobile in a research report on Wednesday, November 7th. Cowen raised their price target on shares of Glu Mobile to $9.50 and gave the company an outperform rating in a research report on Monday, December 10th. Finally, Roth Capital lowered shares of Glu Mobile from a buy rating to a neutral rating in a research report on Monday, October 8th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $8.21.

Shares of GLUU stock traded up $0.29 during trading hours on Thursday, hitting $9.38. 4,944,854 shares of the company’s stock traded hands, compared to its average volume of 2,864,382. The company has a market capitalization of $1.27 billion, a P/E ratio of -18.59, a PEG ratio of 4.02 and a beta of 0.74. Glu Mobile has a 12 month low of $3.02 and a 12 month high of $9.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.26 and a current ratio of 1.26.

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

In other Glu Mobile news, insider Masi Niccolo De sold 89,310 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $7.01, for a total transaction of $626,063.10. Following the sale, the insider now owns 766,669 shares in the company, valued at approximately $5,374,349.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Benjamin T. Iv Smith sold 179,595 shares of Glu Mobile stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $7.37, for a total transaction of $1,323,615.15. Following the sale, the director now owns 189,595 shares in the company, valued at approximately $1,397,315.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 308,808 shares of company stock worth $2,272,494. Insiders own 5.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Glu Mobile by 9.9% in the third quarter. Vanguard Group Inc. now owns 10,792,797 shares of the company’s stock valued at $80,407,000 after purchasing an additional 975,586 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Glu Mobile by 9.9% during the third quarter. Vanguard Group Inc now owns 10,792,797 shares of the company’s stock worth $80,407,000 after purchasing an additional 975,586 shares during the last quarter. BlackRock Inc. lifted its position in shares of Glu Mobile by 6.4% during the second quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock worth $49,374,000 after purchasing an additional 460,693 shares during the last quarter. MARSHALL WACE ASIA Ltd lifted its position in shares of Glu Mobile by 34.8% during the third quarter. MARSHALL WACE ASIA Ltd now owns 4,555,849 shares of the company’s stock worth $33,941,000 after purchasing an additional 1,176,427 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Glu Mobile by 14,199.2% during the third quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock worth $23,774,000 after purchasing an additional 3,168,975 shares during the last quarter. Hedge funds and other institutional investors own 56.31% 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.

Featured Story: Swap

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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