Glu Mobile Inc. (GLUU) Stock Price Up 2.7%
Glu Mobile Inc. (NASDAQ:GLUU) rose 2.7% on Thursday . The company traded as high as $2.31 and last traded at $2.30, with a volume of 1,243,723 shares trading hands. The stock had previously closed at $2.24.
GLUU has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Tuesday, March 29th. Canaccord Genuity restated a “hold” rating and set a $4.00 price objective on shares of Glu Mobile in a research note on Monday, April 4th. Roth Capital cut shares of Glu Mobile from a “buy” rating to a “neutral” rating and cut their price objective for the company from $4.15 to $2.50 in a research note on Wednesday, May 4th. Wedbush cut their price objective on shares of Glu Mobile from $3.30 to $2.65 and set a “neutral” rating on the stock in a research note on Wednesday, May 4th. Finally, Benchmark Co. cut shares of Glu Mobile from a “buy” rating to a “hold” rating and cut their price objective for the company from $3.68 to $2.70 in a research note on Wednesday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.60.
The company’s market cap is $310.93 million. The firm has a 50-day moving average price of $2.32 and a 200 day moving average price of $2.66.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $54 million for the quarter, compared to the consensus estimate of $48.20 million. Glu Mobile’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 EPS. Equities analysts expect that Glu Mobile Inc. will post ($0.14) earnings per share for the current fiscal year.
In other Glu Mobile news, Director Ann Mather sold 20,100 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $2.48, for a total value of $49,848.00. Following the transaction, the director now owns 48,766 shares of the company’s stock, valued at $120,939.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory J. Cannon sold 45,000 shares of the stock in a transaction dated Wednesday, April 13th. The shares were sold at an average price of $3.00, for a total value of $135,000.00. Following the completion of the transaction, the vice president now directly owns 128,770 shares in the company, valued at approximately $386,310. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Glu Mobile stock. Alambic Investment Management L.P. acquired a new position in Glu Mobile Inc. (NASDAQ:GLUU) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 494,100 shares of the company’s stock, valued at approximately $1,201,000. Glu Mobile comprises about 0.7% of Alambic Investment Management L.P.’s investment portfolio, making the stock its 18th largest position. Alambic Investment Management L.P. owned approximately 0.38% of Glu Mobile as of its most recent filing with the SEC.
Glu Mobile Inc develops, publishes and markets a portfolio of games. The Company offers games to a cross section of users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts, such as the Apple App Store, Google Play Store and Amazon Appstore, among others.
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