Glu Mobile Inc. (NASDAQ:GLUU) – Equities research analysts at Piper Jaffray Companies lowered their Q1 2019 earnings per share (EPS) estimates for shares of Glu Mobile in a research note issued to investors on Wednesday, November 7th. Piper Jaffray Companies analyst M. Olson now anticipates that the company will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.03. Piper Jaffray Companies also issued estimates for Glu Mobile’s Q3 2019 earnings at $0.07 EPS.

A number of other analysts have also issued reports on GLUU. BidaskClub lowered shares of Glu Mobile from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 24th. Wedbush set a $7.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a research note on Thursday, July 26th. Stifel Nicolaus boosted their price target on shares of Glu Mobile from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Tuesday, August 7th. Finally, Roth Capital lowered shares of Glu Mobile from a “buy” rating to a “neutral” rating in a research note on Monday, October 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.05.

Shares of NASDAQ:GLUU opened at $8.07 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.03. Glu Mobile has a 1 year low of $3.02 and a 1 year high of $8.42.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. The company had revenue of $99.30 million for the quarter, compared to analyst estimates of $96.14 million. Glu Mobile had a negative net margin of 14.65% and a negative return on equity of 19.63%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) earnings per share.

In other news, CRO Chris Akhavan sold 39,903 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $8.09, for a total transaction of $322,815.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 100,000 shares of the business’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the director now directly owns 103,666 shares of the company’s stock, valued at $654,132.46. The disclosure for this sale can be found here. Insiders have sold 371,713 shares of company stock worth $2,622,978 over the last quarter. Insiders own 5.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in GLUU. Wells Fargo & Company MN grew its position in shares of Glu Mobile by 12.7% during the first quarter. Wells Fargo & Company MN now owns 171,138 shares of the company’s stock worth $645,000 after buying an additional 19,276 shares in the last quarter. Northern Trust Corp boosted its holdings in Glu Mobile by 1.9% in the first quarter. Northern Trust Corp now owns 1,156,223 shares of the company’s stock valued at $4,359,000 after purchasing an additional 22,065 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Glu Mobile by 31.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,948,495 shares of the company’s stock valued at $7,346,000 after purchasing an additional 462,526 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Glu Mobile in the first quarter valued at approximately $210,000. Finally, Handelsbanken Fonder AB boosted its holdings in Glu Mobile by 13.5% in the second quarter. Handelsbanken Fonder AB now owns 1,438,681 shares of the company’s stock valued at $9,222,000 after purchasing an additional 170,912 shares in the last quarter. 54.15% of the stock is owned by institutional investors and hedge funds.

Glu Mobile Company Profile

Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home d├ęcor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.

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Earnings History and Estimates for Glu Mobile (NASDAQ:GLUU)

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