Glu Mobile’s (GLUU) Hold Rating Reiterated at Wedbush

Wedbush reissued their hold rating on shares of Glu Mobile (NASDAQ:GLUU) in a research report released on Tuesday, May 7th, AnalystRatings.com reports. The brokerage currently has a $9.00 price target on the stock. Wedbush also issued estimates for Glu Mobile’s Q2 2019 earnings at $0.02 EPS, Q4 2019 earnings at $0.11 EPS, Q1 2020 earnings at $0.06 EPS, Q2 2020 earnings at $0.06 EPS, Q4 2020 earnings at $0.06 EPS and FY2020 earnings at $0.26 EPS.

Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Glu Mobile from a strong-buy rating to a buy rating in a research note on Monday, February 25th. Zacks Investment Research upgraded shares of Glu Mobile from a hold rating to a buy rating and set a $10.00 price target for the company in a research note on Wednesday, February 6th. Piper Jaffray Companies raised their target price on shares of Glu Mobile to $11.00 and gave the stock an overweight rating in a research note on Tuesday, February 5th. Finally, Stephens started coverage on shares of Glu Mobile in a research note on Thursday, January 10th. They issued an overweight rating and a $10.50 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $9.67.

Shares of NASDAQ:GLUU remained flat at $$8.15 during trading hours on Tuesday. 1,969,624 shares of the company’s stock were exchanged, compared to its average volume of 2,447,532. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $1.18 billion, a P/E ratio of -101.88, a PEG ratio of 2.91 and a beta of 0.73. Glu Mobile has a 52 week low of $5.08 and a 52 week high of $11.75.

Glu Mobile (NASDAQ:GLUU) last posted its earnings results on Monday, May 6th. The company reported $0.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.01. The firm had revenue of $92.60 million for the quarter, compared to the consensus estimate of $89.74 million. Glu Mobile had a negative net margin of 1.40% and a negative return on equity of 0.92%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. As a group, research analysts expect that Glu Mobile will post 0.19 earnings per share for the current fiscal year.

In other Glu Mobile news, Director Hany Nada sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $9.18, for a total transaction of $459,000.00. Following the completion of the transaction, the director now directly owns 240,200 shares in the company, valued at approximately $2,205,036. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Masi Niccolo De sold 90,714 shares of Glu Mobile stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $10.75, for a total transaction of $975,175.50. Following the sale, the insider now owns 770,065 shares of the company’s stock, valued at $8,278,198.75. The disclosure for this sale can be found here. 6.84% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Glu Mobile during the first quarter valued at approximately $49,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Glu Mobile during the first quarter valued at approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Glu Mobile by 79.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,752 shares of the company’s stock valued at $71,000 after buying an additional 3,870 shares in the last quarter. Advisor Group Inc. lifted its position in Glu Mobile by 12,412.0% during the fourth quarter. Advisor Group Inc. now owns 9,384 shares of the company’s stock valued at $75,000 after buying an additional 9,309 shares in the last quarter. Finally, Perritt Capital Management Inc. acquired a new position in Glu Mobile during the fourth quarter valued at approximately $81,000. 57.68% 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 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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Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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