Brokers Offer Predictions for Glu Mobile Inc.’s Q1 2019 Earnings (GLUU)
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.
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 décor, 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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