-$0.06 Earnings Per Share Expected for Glu Mobile Inc. (GLUU) This Quarter
Brokerages expect Glu Mobile Inc. (NASDAQ:GLUU) to post earnings per share of ($0.06) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Glu Mobile’s earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.06). The company is expected to announce its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Glu Mobile will report full-year earnings of ($0.19) per share for the current fiscal year, with EPS estimates ranging from ($0.21) to ($0.18). For the next year, analysts anticipate that the firm will post earnings of ($0.06) per share, with EPS estimates ranging from ($0.08) to ($0.03). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Glu Mobile.
A number of equities research analysts recently commented on GLUU shares. Roth Capital reissued a “buy” rating and issued a $3.75 price objective on shares of Glu Mobile in a research note on Wednesday, June 28th. Stifel Nicolaus restated a “buy” rating and issued a $3.30 target price (up from $2.80) on shares of Glu Mobile in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Monday. Wedbush restated a “hold” rating on shares of Glu Mobile in a report on Wednesday, August 2nd. Finally, Canaccord Genuity restated a “hold” rating and issued a $3.00 target price on shares of Glu Mobile in a report on Friday, June 30th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Glu Mobile presently has a consensus rating of “Buy” and a consensus target price of $3.03.
In other Glu Mobile news, insider Masi Niccolo De sold 339,648 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $2.59, for a total value of $879,688.32. Following the completion of the sale, the insider now owns 537,228 shares of the company’s stock, valued at $1,391,420.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Glu Mobile by 2.4% in the fourth quarter. State Street Corp now owns 1,799,025 shares of the company’s stock valued at $3,493,000 after buying an additional 41,559 shares during the period. Nationwide Fund Advisors increased its stake in shares of Glu Mobile by 69.2% in the first quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock valued at $334,000 after buying an additional 60,168 shares during the period. Creative Planning increased its stake in shares of Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock valued at $113,000 after buying an additional 901 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Glu Mobile by 163.9% in the first quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock valued at $303,000 after buying an additional 83,002 shares during the period. Finally, KCG Holdings Inc. increased its stake in shares of Glu Mobile by 224.1% in the first quarter. KCG Holdings Inc. now owns 382,508 shares of the company’s stock valued at $868,000 after buying an additional 264,471 shares during the period. 30.17% of the stock is owned by institutional investors.
Glu Mobile (NASDAQ GLUU) traded up 2.2686% during mid-day trading on Friday, reaching $3.1601. 4,440,467 shares of the company traded hands. The stock’s 50 day moving average price is $2.60 and its 200 day moving average price is $2.39. Glu Mobile has a 52 week low of $1.73 and a 52 week high of $3.21. The firm’s market capitalization is $426.82 million.
About Glu Mobile
Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.
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