Glu Mobile Inc. (GLUU) Trading Up 7.3% on Insider Buying Activity
Shares of Glu Mobile Inc. (NASDAQ:GLUU) were up 7.3% during mid-day trading on Monday following insider buying activity. The stock traded as high as $2.45 and last traded at $2.36, with a volume of 6,273,830 shares traded. The stock had previously closed at $2.20.
Specifically, CEO Nicholas Earl bought 100,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric R. Ludwig sold 26,119 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $2.32, for a total value of $60,596.08. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.
Several analysts recently commented on GLUU shares. Roth Capital reaffirmed a “neutral” rating and set a $2.50 target price on shares of Glu Mobile in a report on Thursday, July 28th. Wedbush dropped their target price on Glu Mobile from $2.65 to $2.45 and set a “neutral” rating on the stock in a report on Friday, July 29th. Northland Securities lowered Glu Mobile from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. Zacks Investment Research lowered Glu Mobile from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Finally, Canaccord Genuity reaffirmed a “neutral” rating and set a $3.00 target price on shares of Glu Mobile in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Glu Mobile presently has an average rating of “Hold” and an average target price of $3.03.
The firm’s 50-day moving average is $2.04 and its 200-day moving average is $2.25. The stock’s market cap is $314.97 million.
Glu Mobile (NASDAQ:GLUU) last posted 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 company had revenue of $51.40 million for the quarter, compared to analysts’ expectations of $50.93 million. Glu Mobile had a negative net margin of 33.99% and a negative return on equity of 20.40%. The firm’s revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 earnings per share. Analysts expect that Glu Mobile Inc. will post ($0.38) EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in Glu Mobile by 107.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 46,073 shares of the company’s stock valued at $101,000 after buying an additional 23,910 shares in the last quarter. Capital Advisors Inc. OK bought a new stake in Glu Mobile during the third quarter valued at approximately $103,000. BlackRock Advisors LLC increased its stake in Glu Mobile by 9.4% in the third quarter. BlackRock Advisors LLC now owns 53,909 shares of the company’s stock valued at $121,000 after buying an additional 4,614 shares in the last quarter. Penserra Capital Management LLC increased its stake 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. Finally, Price T Rowe Associates Inc. MD bought a new stake in Glu Mobile during the third quarter valued at approximately $135,000. 23.69% of the stock is 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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