Glu Mobile (NASDAQ:GLUU) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Glu Mobile (NASDAQ:GLUU) from a strong-buy rating to a buy rating in a report published on Friday, June 7th, ValuEngine reports.

GLUU has been the subject of several other research reports. BidaskClub downgraded Glu Mobile from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Zacks Investment Research downgraded Glu Mobile from a buy rating to a hold rating in a report on Tuesday, April 9th. Piper Jaffray Companies raised their price target on Glu Mobile from $11.00 to $12.00 and gave the stock an overweight rating in a report on Tuesday, May 7th. Finally, Wedbush reaffirmed a hold rating and set a $9.00 target price on shares of Glu Mobile in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $9.92.

Shares of Glu Mobile stock traded down $0.10 during trading on Friday, hitting $7.08. 1,359,400 shares of the stock traded hands, compared to its average volume of 2,490,859. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -88.50, a P/E/G ratio of 2.55 and a beta of 0.81. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $7.90. Glu Mobile has a 52-week low of $5.08 and a 52-week high of $11.75.

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

In other news, Director Greg Brandeau sold 4,170 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $7.26, for a total value of $30,274.20. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $363,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masi Niccolo De sold 90,714 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $10.75, for a total value of $975,175.50. Following the completion of 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. Over the last quarter, insiders have sold 7,354,612 shares of company stock valued at $57,268,342. 6.84% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Glu Mobile in the first quarter valued at approximately $49,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Glu Mobile during the first quarter worth approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Glu Mobile by 79.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,752 shares of the company’s stock worth $71,000 after purchasing an additional 3,870 shares in the last quarter. Advisor Group Inc. increased its position in shares of Glu Mobile by 12,412.0% during the fourth quarter. Advisor Group Inc. now owns 9,384 shares of the company’s stock worth $75,000 after purchasing an additional 9,309 shares in the last quarter. Finally, Perritt Capital Management Inc. purchased a new stake in shares of Glu Mobile during the fourth quarter worth approximately $81,000. Institutional investors and hedge funds own 57.67% 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 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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