Glu Mobile Inc. (NASDAQ:GLUU) Director Sells $74,988.00 in Stock

Glu Mobile Inc. (NASDAQ:GLUU) Director Greg Brandeau sold 12,498 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 $174,996. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NASDAQ GLUU remained flat at $$5.97 during midday trading on Thursday. 3,083,266 shares of the stock were exchanged, compared to its average volume of 2,880,507. The business’s 50-day simple moving average is $5.11 and its 200-day simple moving average is $7.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $869.45 million, a P/E ratio of -74.56, a price-to-earnings-growth ratio of 3.44 and a beta of 1.05. Glu Mobile Inc. has a 1 year low of $4.11 and a 1 year high of $11.75.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $101.90 million during the quarter, compared to analysts’ expectations of $100.93 million. Glu Mobile had a net margin of 0.41% and a return on equity of 3.39%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) earnings per share. Sell-side analysts predict that Glu Mobile Inc. will post 0.11 earnings per share for the current fiscal year.

Several research firms have weighed in on GLUU. Roth Capital upgraded shares of Glu Mobile from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, September 11th. Benchmark upgraded shares of Glu Mobile to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday, September 10th. BidaskClub upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a research report on Saturday, September 7th. Stephens set a $8.00 price target on shares of Glu Mobile and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $6.50 price target on shares of Glu Mobile in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Glu Mobile currently has a consensus rating of “Buy” and an average target price of $7.59.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Highline Capital Management L.P. purchased a new stake in shares of Glu Mobile in the second quarter worth $22,276,000. First Trust Advisors LP purchased a new stake in shares of Glu Mobile in the second quarter worth $2,610,000. Virginia Retirement Systems ET AL increased its stake in shares of Glu Mobile by 8.4% in the second quarter. Virginia Retirement Systems ET AL now owns 90,000 shares of the company’s stock worth $646,000 after purchasing an additional 7,000 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Glu Mobile by 41.2% in the second quarter. SG Americas Securities LLC now owns 238,686 shares of the company’s stock worth $1,714,000 after purchasing an additional 69,628 shares in the last quarter. Finally, Artemis Investment Management LLP increased its stake in shares of Glu Mobile by 4.9% in the second quarter. Artemis Investment Management LLP now owns 1,599,507 shares of the company’s stock worth $11,156,000 after purchasing an additional 74,794 shares in the last quarter. 65.35% of the stock is owned by hedge funds and other institutional investors.

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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