Glu Mobile Inc. (GLUU) Rating Increased to Hold at Zacks Investment Research
Glu Mobile Inc. (NASDAQ:GLUU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Several other research firms also recently commented on GLUU. Northland Securities downgraded shares of Glu Mobile from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. Canaccord Genuity reiterated a “hold” rating and issued a $3.00 target price on shares of Glu Mobile in a research note on Tuesday, November 1st. Wedbush set a $2.25 target price on shares of Glu Mobile and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $3.00 target price on shares of Glu Mobile in a research note on Monday. Finally, Roth Capital reiterated a “neutral” rating and issued a $2.00 target price (down from $2.50) on shares of Glu Mobile in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $3.03.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 1.86 on Wednesday. Glu Mobile has a 52 week low of $1.73 and a 52 week high of $4.00. The company has a 50 day moving average of $2.07 and a 200 day moving average of $2.28. The company’s market cap is $247.58 million.
Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.30. The business earned $51.40 million during the quarter, compared to the consensus estimate of $50.93 million. Glu Mobile had a negative return on equity of 4.78% and a negative net margin of 12.90%. The firm’s quarterly revenue was down 18.8% on a year-over-year basis. During the same period last year, the business posted $0.06 earnings per share. On average, analysts expect that Glu Mobile will post ($0.31) EPS for the current year.
In related news, CFO Eric R. Ludwig sold 26,119 shares of Glu Mobile stock in a transaction on Monday, August 29th. The shares were sold at an average price of $2.32, for a total value of $60,596.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors boosted its position in shares of Glu Mobile by 8.7% in the third quarter. BlackRock Fund Advisors now owns 2,898,044 shares of the company’s stock worth $6,492,000 after buying an additional 231,973 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Glu Mobile by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,760,833 shares of the company’s stock worth $6,184,000 after buying an additional 20,758 shares during the last quarter. Northern Trust Corp boosted its position in shares of Glu Mobile by 1.4% in the third quarter. Northern Trust Corp now owns 1,082,248 shares of the company’s stock worth $2,424,000 after buying an additional 14,747 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Glu Mobile by 39.0% in the second quarter. California Public Employees Retirement System now owns 930,900 shares of the company’s stock worth $2,048,000 after buying an additional 261,038 shares during the last quarter. Finally, Alambic Investment Management L.P. boosted its position in shares of Glu Mobile by 41.9% in the third quarter. Alambic Investment Management L.P. now owns 691,000 shares of the company’s stock worth $1,548,000 after buying an additional 203,900 shares during the last quarter. Institutional investors own 27.84% of the company’s stock.
About Glu Mobile
Glu Mobile Inc develops, publishes and markets a portfolio of games. The Company’s games appeal to a cross section of the users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts. It operates through mobile games segment. It operates in various geographical regions, including the United States; Americas, excluding the United States; Europe, the Middle East and Africa (EMEA), and Asia Pacific.
Receive News & Stock Ratings for Glu Mobile Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile Inc. and related stocks with our FREE daily email newsletter.