Glu Mobile Inc. (NASDAQ:GLUU) has received a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.96.
GLUU has been the subject of several research analyst reports. ValuEngine raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $4.75 target price on shares of Glu Mobile in a research report on Friday, February 9th. Benchmark raised their target price on shares of Glu Mobile from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. BidaskClub raised shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 1st. Finally, Wedbush set a $5.00 target price on shares of Glu Mobile and gave the stock a “hold” rating in a research report on Friday, February 9th.
Get Glu Mobile alerts:
Shares of Glu Mobile opened at $5.62 on Friday, MarketBeat Ratings reports. Glu Mobile has a 12-month low of $2.42 and a 12-month high of $6.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market capitalization of $782.10 million, a price-to-earnings ratio of -11.02, a PEG ratio of 7.00 and a beta of 1.46.
Glu Mobile (NASDAQ:GLUU) last posted its earnings results on Tuesday, May 1st. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Glu Mobile had a negative net margin of 26.33% and a negative return on equity of 34.72%. The firm had revenue of $81.44 million during the quarter, compared to analysts’ expectations of $73.20 million. During the same period last year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. research analysts expect that Glu Mobile will post 0.05 earnings per share for the current fiscal year.
In related news, Director Hany Nada sold 300,000 shares of Glu Mobile stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $6.01, for a total transaction of $1,803,000.00. Following the completion of the transaction, the director now directly owns 190,200 shares of the company’s stock, valued at approximately $1,143,102. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Masi Niccolo De sold 134,785 shares of Glu Mobile stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $4.81, for a total transaction of $648,315.85. Following the transaction, the insider now directly owns 524,755 shares of the company’s stock, valued at $2,524,071.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 965,936 shares of company stock valued at $5,214,146. 5.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in Glu Mobile by 4.0% in the fourth quarter. Bank of New York Mellon Corp now owns 490,496 shares of the company’s stock worth $1,785,000 after buying an additional 18,959 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Glu Mobile by 3.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,143,700 shares of the company’s stock worth $7,803,000 after buying an additional 75,600 shares during the last quarter. California Public Employees Retirement System raised its holdings in Glu Mobile by 10.6% in the fourth quarter. California Public Employees Retirement System now owns 898,738 shares of the company’s stock worth $3,271,000 after buying an additional 86,438 shares during the last quarter. Virtu Financial LLC purchased a new position in Glu Mobile in the fourth quarter worth about $994,000. Finally, AXA raised its holdings in Glu Mobile by 616.6% in the fourth quarter. AXA now owns 116,800 shares of the company’s stock worth $425,000 after buying an additional 100,500 shares during the last quarter. 45.91% of the stock is owned by institutional investors.
About Glu Mobile
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茅cor, 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.