Glu Mobile (GLUU) Downgraded to “Hold” at BidaskClub
BidaskClub cut shares of Glu Mobile (NASDAQ:GLUU) from a buy rating to a hold rating in a research report report published on Tuesday morning.
GLUU has been the subject of several other research reports. Zacks Investment Research raised shares of Glu Mobile from a hold rating to a buy rating and set a $3.75 price target for the company in a report on Wednesday, September 6th. ValuEngine lowered shares of Glu Mobile from a hold rating to a sell rating in a report on Friday, December 1st. Stifel Nicolaus reissued a buy rating and issued a $4.50 price target (up previously from $3.30) on shares of Glu Mobile in a report on Tuesday, October 31st. Finally, Canaccord Genuity reissued a hold rating and issued a $3.00 price target on shares of Glu Mobile in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $3.97.
Glu Mobile (NASDAQ GLUU) traded up $0.09 on Tuesday, reaching $3.66. 1,718,058 shares of the company’s stock were exchanged, compared to its average volume of 4,583,942. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09. Glu Mobile has a 12-month low of $1.85 and a 12-month high of $4.95.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.67 million. During the same period last year, the firm earned ($0.33) EPS. Glu Mobile’s quarterly revenue was up 57.8% on a year-over-year basis. equities analysts expect that Glu Mobile will post -0.18 EPS for the current year.
In related news, insider Masi Niccolo De sold 131,966 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.70, for a total value of $488,274.20. Following the completion of the transaction, the insider now directly owns 512,859 shares of the company’s stock, valued at approximately $1,897,578.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Eric R. Ludwig sold 160,000 shares of the company’s stock in a transaction on Monday, October 9th. The stock was 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. Over the last ninety days, insiders sold 1,196,422 shares of company stock valued at $5,055,591. Company insiders own 5.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Glu Mobile by 8.0% during the 1st quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock worth $10,595,000 after buying an additional 344,727 shares in the last quarter. Northern Right Capital Management L.P. lifted its position in Glu Mobile by 109.9% during the 2nd quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after buying an additional 1,444,816 shares in the last quarter. State Street Corp lifted its position in Glu Mobile by 6.7% during the 2nd quarter. State Street Corp now owns 1,914,877 shares of the company’s stock worth $4,791,000 after buying an additional 120,550 shares in the last quarter. Northern Trust Corp lifted its position in Glu Mobile by 1.8% during the 2nd quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock worth $2,857,000 after buying an additional 20,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Glu Mobile by 192.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,098,454 shares of the company’s stock worth $4,130,000 after buying an additional 722,564 shares in the last quarter. 35.54% of the stock is owned by hedge funds and other institutional investors.
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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