Glu Mobile Inc. (GLUU) to Post Q3 2017 Earnings of ($0.05) Per Share, Wedbush Forecasts
Glu Mobile Inc. (NASDAQ:GLUU) – Stock analysts at Wedbush raised their Q3 2017 EPS estimates for shares of Glu Mobile in a research report issued on Wednesday. Wedbush analyst N. Mckay now expects that the company will post earnings per share of ($0.05) for the quarter, up from their previous estimate of ($0.07). Wedbush has a “Hold” rating on the stock. Wedbush also issued estimates for Glu Mobile’s Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.18) EPS, Q1 2018 earnings at ($0.02) EPS, Q2 2018 earnings at ($0.02) EPS, Q3 2018 earnings at ($0.02) EPS, Q4 2018 earnings at ($0.01) EPS and FY2018 earnings at ($0.07) EPS.
A number of other research analysts have also weighed in on GLUU. Zacks Investment Research upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th. Mizuho boosted their price target on shares of Glu Mobile from $2.40 to $2.80 and gave the company a “neutral” rating in a research report on Thursday, May 4th. Cowen and Company restated an “outperform” rating and set a $3.00 price target on shares of Glu Mobile in a research report on Thursday, May 4th. Roth Capital set a $4.00 price target on shares of Glu Mobile and gave the company a “buy” rating in a research report on Wednesday, May 24th. Finally, Canaccord Genuity restated a “hold” rating and set a $3.00 price target on shares of Glu Mobile in a research report on Friday, June 30th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $3.03.
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Shares of Glu Mobile (NASDAQ GLUU) opened at 3.13 on Monday. Glu Mobile has a 52 week low of $1.73 and a 52 week high of $3.21. The company has a 50 day moving average price of $2.64 and a 200 day moving average price of $2.40. The company’s market capitalization is $422.75 million.
Several hedge funds have recently bought and sold shares of GLUU. Creative Planning increased its stake in Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock worth $113,000 after buying an additional 901 shares in the last quarter. American International Group Inc. increased its stake in Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after buying an additional 4,196 shares in the last quarter. Prudential Financial Inc. increased its stake in Glu Mobile by 4.0% in the second quarter. Prudential Financial Inc. now owns 119,504 shares of the company’s stock worth $299,000 after buying an additional 4,600 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Glu Mobile by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 491,866 shares of the company’s stock worth $1,116,000 after buying an additional 15,866 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Glu Mobile by 2.0% in the first quarter. Geode Capital Management LLC now owns 879,018 shares of the company’s stock worth $1,995,000 after buying an additional 17,600 shares in the last quarter. 30.17% of the stock is owned by institutional investors.
In other news, insider Masi Niccolo De sold 339,648 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $2.59, for a total transaction of $879,688.32. Following the completion of the transaction, the insider now directly owns 537,228 shares in the company, valued at approximately $1,391,420.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.
Glu Mobile Company Profile
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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