Glu Mobile Inc. (GLUU) Stock Price Up 2.7%
Glu Mobile Inc. (NASDAQ:GLUU)’s share price rose 2.7% during mid-day trading on Thursday . The stock traded as high as $2.31 and last traded at $2.30, with a volume of 1,243,723 shares traded. The stock had previously closed at $2.24.
GLUU has been the topic of several recent research reports. Zacks Investment Research raised 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 reiterated a “hold” rating and issued a $4.00 target price on shares of Glu Mobile in a report on Monday, April 4th. Roth Capital cut shares of Glu Mobile from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $4.15 to $2.50 in a report on Wednesday, May 4th. Wedbush decreased their target price on shares of Glu Mobile from $3.30 to $2.65 and set a “neutral” rating for the company in a report on Wednesday, May 4th. Finally, Benchmark Co. cut shares of Glu Mobile from a “buy” rating to a “hold” rating and decreased their target price for the stock from $3.68 to $2.70 in a report on Wednesday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $3.60.
The stock’s 50 day moving average price is $2.33 and its 200-day moving average price is $2.66. The firm’s market capitalization is $304.31 million.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The firm had revenue of $54 million for the quarter, compared to the consensus estimate of $48.20 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. On average, equities analysts predict that Glu Mobile Inc. will post ($0.14) EPS for the current fiscal year.
In other news, VP Gregory J. Cannon sold 45,000 shares of the company’s stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $3.00, for a total value of $135,000.00. Following the completion of the sale, the vice president now directly owns 128,770 shares of the company’s stock, valued at approximately $386,310. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 20,100 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $2.48, for a total value of $49,848.00. Following the completion of the sale, the director now directly owns 48,766 shares of the company’s stock, valued at $120,939.68. 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. purchased a new position in shares of Glu Mobile Inc. (NASDAQ:GLUU) during the fourth quarter, Holdings Channel reports. The fund purchased 494,100 shares of the company’s stock, valued at approximately $1,201,000. Glu Mobile accounts for about 0.7% of Alambic Investment Management L.P.’s holdings, making the stock its 18th largest position. Alambic Investment Management L.P. owned about 0.38% of Glu Mobile at the end of the most recent reporting period.
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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