Glu Mobile (GLUU) Rating Lowered to Hold at Zacks Investment Research
Glu Mobile (NASDAQ:GLUU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “GLU MOBILE INC., is a leading global publisher of mobile games. Its portfolio of top-rated games includes original titles Super K.O. Boxing!, Stranded and Brain Genius, and titles based on major brands from partners including Atari, Activision, Konami, Harrah’s, Hasbro, Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony. Glu is based in San Mateo, Calif. and has offices in London, France, Germany, Spain, Italy, Sweden, Poland, Russia, Hong Kong, China, Brazil, Chile, Canada and San Clemente, Calif. “
Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $4.50 target price (up previously from $3.30) on shares of Glu Mobile in a research report on Tuesday, October 31st. Roth Capital reiterated a “buy” rating and issued a $4.75 target price (up previously from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. ValuEngine upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $3.00 target price on shares of Glu Mobile in a research report on Monday, October 30th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Glu Mobile currently has an average rating of “Hold” and a consensus price target of $3.97.
Shares of Glu Mobile (NASDAQ GLUU) opened at $4.64 on Tuesday. Glu Mobile has a fifty-two week low of $1.85 and a fifty-two week high of $4.73. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03.
Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.67 million. Glu Mobile had a negative return on equity of 35.19% and a negative net margin of 29.74%. The business’s revenue was up 57.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) earnings per share. research analysts expect that Glu Mobile will post -0.18 earnings per share for the current fiscal year.
In other Glu Mobile news, Director Hany Nada sold 766,456 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $4.51, for a total value of $3,456,716.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Eric R. Ludwig sold 160,000 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $3.67, for a total transaction of $587,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,196,422 shares of company stock worth $5,055,591. 5.60% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in GLUU. Vanguard Group Inc. increased its position in shares of Glu Mobile by 8.0% in the first quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock valued at $10,595,000 after acquiring an additional 344,727 shares during the period. Geode Capital Management LLC increased its position in shares of Glu Mobile by 2.0% in the first quarter. Geode Capital Management LLC now owns 879,018 shares of the company’s stock valued at $1,995,000 after acquiring an additional 17,600 shares during the period. Morgan Stanley increased its position in shares of Glu Mobile by 40.5% in the first quarter. Morgan Stanley now owns 713,836 shares of the company’s stock valued at $1,620,000 after acquiring an additional 205,918 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Glu Mobile in the first quarter valued at about $877,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Glu Mobile by 125.4% in the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock valued at $108,000 after acquiring an additional 26,535 shares during the period. Hedge funds and other institutional investors own 35.66% of the company’s stock.
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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