Glu Mobile Inc. (GLUU) Given a $2.00 Price Target by Roth Capital Analysts
Glu Mobile Inc. (NASDAQ:GLUU) has been given a $2.00 price target by equities researchers at Roth Capital in a report issued on Monday. The firm currently has a “hold” rating on the stock. Roth Capital’s price target would suggest a potential downside of 9.09% from the company’s current price.
Several other brokerages also recently issued reports on GLUU. Northland Securities downgraded shares of Glu Mobile from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 3rd. Canaccord Genuity reaffirmed a “hold” rating and issued a $3.00 target price on shares of Glu Mobile in a research report 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. restated an “overweight” rating and set a $3.00 target price on shares of Glu Mobile in a research note on Monday, November 7th. Finally, Benchmark Co. cut their target price on shares of Glu Mobile from $2.32 to $2.15 and set a “hold” rating for the company in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $3.03.
Shares of Glu Mobile (NASDAQ:GLUU) traded up 7.7591% on Monday, hitting $2.3707. The company had a trading volume of 3,761,946 shares. The company’s market cap is $316.40 million. Glu Mobile has a 12-month low of $1.73 and a 12-month high of $4.00. The company has a 50 day moving average of $2.04 and a 200-day moving average of $2.25.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.30. Glu Mobile had a negative return on equity of 20.40% and a negative net margin of 33.99%. The company had revenue of $51.40 million for the quarter, compared to the consensus estimate of $50.93 million. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was down 18.8% on a year-over-year basis. On average, analysts forecast that Glu Mobile will post ($0.38) earnings per share for the current year.
In other news, CEO Nicholas Earl bought 100,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were purchased at an average cost of $2.09 per share, with a total value of $209,000.00. Following the acquisition, the chief executive officer now directly owns 184,638 shares in the company, valued at $385,893.42. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Eric R. Ludwig sold 26,119 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $2.32, for a total transaction of $60,596.08. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. purchased a new position in Glu Mobile during the second quarter valued at approximately $425,000. Alliancebernstein L.P. raised its position in Glu Mobile by 11.6% in the second quarter. Alliancebernstein L.P. now owns 111,000 shares of the company’s stock valued at $244,000 after buying an additional 11,500 shares in the last quarter. BlackRock Investment Management LLC raised its position in Glu Mobile by 2.2% in the second quarter. BlackRock Investment Management LLC now owns 457,854 shares of the company’s stock valued at $1,007,000 after buying an additional 9,939 shares in the last quarter. Prudential Financial Inc. raised its position in Glu Mobile by 489.3% in the second quarter. Prudential Financial Inc. now owns 64,434 shares of the company’s stock valued at $142,000 after buying an additional 53,500 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Glu Mobile by 35.4% in the second quarter. Penserra Capital Management LLC now owns 58,024 shares of the company’s stock valued at $128,000 after buying an additional 15,160 shares in the last quarter. 23.69% of the stock is currently owned by hedge funds and other institutional investors.
Glu Mobile Company Profile
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.
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