Glu Mobile Inc. (GLUU) CEO Nicholas Earl Purchases 100,000 Shares of Stock
Glu Mobile Inc. (NASDAQ:GLUU) CEO Nicholas Earl acquired 100,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were bought at an average price of $2.09 per share, with a total value of $209,000.00. Following the completion of the transaction, the chief executive officer now directly owns 184,638 shares of the company’s stock, valued at $385,893.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Glu Mobile Inc. (NASDAQ:GLUU) traded down 1.059% during trading on Tuesday, hitting $2.335. 377,043 shares of the stock were exchanged. The firm’s market capitalization is $311.64 million. Glu Mobile Inc. has a 52 week low of $1.73 and a 52 week high of $4.00. The stock’s 50 day moving average price is $2.05 and its 200 day moving average price is $2.25.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.30. The business 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 business’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. On average, equities analysts predict that Glu Mobile Inc. will post ($0.38) earnings per share for the current year.
A number of brokerages recently issued reports on GLUU. Canaccord Genuity reissued a “hold” rating and issued a $3.00 price objective on shares of Glu Mobile in a research note on Tuesday, November 1st. Roth Capital set a $2.00 target price on shares of Glu Mobile and gave the stock a “hold” rating in a research note on Sunday, October 30th. Zacks Investment Research raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. 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. Finally, Benchmark Co. decreased their target price on shares of Glu Mobile from $2.32 to $2.15 and set a “hold” rating on the stock in a research note on Thursday, November 10th. One equities 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 given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $3.03.
Several hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new position in shares of Glu Mobile during the first quarter worth approximately $978,000. California Public Employees Retirement System raised 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. GSA Capital Partners LLP bought a new position in shares of Glu Mobile during the second quarter worth approximately $564,000. D. E. Shaw & Co. Inc. raised its position in shares of Glu Mobile by 10.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 2,573,413 shares of the company’s stock worth $5,765,000 after buying an additional 241,907 shares during the last quarter. Finally, BlackRock Fund Advisors raised 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. Institutional investors own 23.69% 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.
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