Glu Mobile (NASDAQ:GLUU) Reaches New 52-Week Low at $4.25

Shares of Glu Mobile Inc. (NASDAQ:GLUU) hit a new 52-week low during trading on Friday . The company traded as low as $4.25 and last traded at $4.29, with a volume of 46377 shares trading hands. The stock had previously closed at $4.46.

GLUU has been the subject of a number of recent analyst reports. Benchmark lowered their price target on Glu Mobile from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. BidaskClub cut Glu Mobile from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Wedbush lowered their target price on Glu Mobile from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. ValuEngine cut Glu Mobile from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.38.

The business has a 50 day moving average of $6.27 and a 200-day moving average of $8.54. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $635.31 million, a P/E ratio of -52.93, a PEG ratio of 2.79 and a beta of 0.84.

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

In other Glu Mobile news, Director Greg Brandeau sold 4,166 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $7.10, for a total transaction of $29,578.60. Following the completion of the transaction, the director now owns 41,664 shares of the company’s stock, valued at approximately $295,814.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $7.75, for a total value of $56,262,892.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,268,064 shares of company stock valued at $56,322,745. Insiders own 6.84% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its position in Glu Mobile by 16.0% in the fourth quarter. Legal & General Group Plc now owns 21,602 shares of the company’s stock valued at $174,000 after acquiring an additional 2,976 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Glu Mobile by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,953,254 shares of the company’s stock valued at $15,763,000 after acquiring an additional 10,425 shares during the last quarter. Virtu Financial LLC bought a new position in Glu Mobile in the first quarter valued at about $124,000. Creative Planning bought a new position in Glu Mobile in the first quarter valued at about $111,000. Finally, Virginia Retirement Systems ET AL bought a new position in Glu Mobile in the first quarter valued at about $908,000. 59.58% of the stock is owned by hedge funds and other institutional investors.

Glu Mobile Company Profile (NASDAQ:GLUU)

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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