According to Zacks, “GLU MOBILE INC., is a leading global publisher of mobile games. Its portfolio of top-rated games includes original titles Super K.O. Boxing!, Stranded and Brain Genius, and titles based on major brands from partners including Atari, Activision, Konami, Harrah’s, Hasbro, Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony. Glu is based in San Mateo, Calif. and has offices in London, France, Germany, Spain, Italy, Sweden, Poland, Russia, Hong Kong, China, Brazil, Chile, Canada and San Clemente, Calif. “
Zacks Investment Research upgraded shares of Glu Mobile Inc. (NASDAQ:GLUU) from a hold rating to a buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $2.75 price objective on the stock.
A number of other research firms have also recently issued reports on GLUU. Roth Capital set a $2.00 target price on shares of Glu Mobile and gave the company a hold rating in a research note on Sunday, October 30th. Wedbush reiterated a neutral rating and issued a $2.25 target price on shares of Glu Mobile in a research note on Tuesday, February 7th. Mizuho initiated coverage on shares of Glu Mobile in a research note on Thursday, December 22nd. They issued a neutral rating and a $2.30 target price for the company. Canaccord Genuity reiterated a hold rating and issued a $3.00 target price on shares of Glu Mobile in a research note on Tuesday, November 1st. Finally, Piper Jaffray Companies reiterated an overweight rating and issued a $3.00 target price on shares of Glu Mobile in a research note on Monday, November 7th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $2.88.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 2.13 on Wednesday. Glu Mobile has a 12-month low of $1.73 and a 12-month high of $4.00. The firm’s market capitalization is $284.86 million. The company’s 50-day moving average is $2.22 and its 200-day moving average is $2.19.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Wednesday, February 8th. The company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. Glu Mobile had a negative net margin of 43.59% and a negative return on equity of 27.11%. The company had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $47.04 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, equities analysts forecast that Glu Mobile will post ($0.17) earnings per share for the current fiscal year.
In related news, insider Masi Niccolo De bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the transaction, the insider now owns 675,936 shares of the company’s stock, valued at approximately $1,399,187.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas Earl bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were bought at an average cost of $2.09 per share, for a total transaction of $209,000.00. Following the transaction, the chief executive officer now directly owns 184,638 shares of the company’s stock, valued at approximately $385,893.42. The disclosure for this purchase can be found here. Insiders own 4.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GLUU. Emerald Acquisition Ltd. bought a new position in shares of Glu Mobile during the second quarter worth about $448,000. Alambic Investment Management L.P. raised its position in shares of Glu Mobile by 41.9% in the third quarter. Alambic Investment Management L.P. now owns 691,000 shares of the company’s stock worth $1,548,000 after buying an additional 203,900 shares during the period. Engineers Gate Manager LP raised its position in shares of Glu Mobile by 1,230.8% in the third quarter. Engineers Gate Manager LP now owns 137,707 shares of the company’s stock worth $308,000 after buying an additional 127,359 shares during the period. Penserra Capital Management LLC raised its position in shares of Glu Mobile by 111.5% in the third quarter. Penserra Capital Management LLC now owns 122,713 shares of the company’s stock worth $274,000 after buying an additional 64,689 shares during the period. Finally, Capital Advisors Inc. OK bought a new position in shares of Glu Mobile during the third quarter worth about $103,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.
About Glu Mobile
Glu Mobile Inc develops, publishes and markets a portfolio of games. The Company’s games appeal to a cross section of the users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts. It operates through mobile games segment. It operates in various geographical regions, including the United States; Americas, excluding the United States; Europe, the Middle East and Africa (EMEA), and Asia Pacific.
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