Masi Niccolo De Buys 20,000 Shares of Glu Mobile Inc. (GLUU) Stock
Glu Mobile Inc. (NASDAQ:GLUU) insider Masi Niccolo De purchased 20,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were purchased at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the transaction, the insider now owns 675,936 shares of the company’s stock, valued at $1,399,187.52. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Glu Mobile Inc. (NASDAQ:GLUU) opened at 2.27 on Wednesday. The stock’s market capitalization is $302.96 million. Glu Mobile Inc. has a 52-week low of $1.73 and a 52-week high of $4.00. The firm’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) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.30. The company had revenue of $51.40 million for the quarter, compared to analyst estimates of $50.93 million. Glu Mobile had a negative return on equity of 20.40% and a negative net margin of 33.99%. The firm’s revenue for the quarter 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. Equities analysts forecast that Glu Mobile Inc. will post ($0.38) earnings per share for the current fiscal year.
Several research analysts have weighed in on GLUU shares. 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. Roth Capital set a $2.00 target price on Glu Mobile and gave the company a “hold” rating in a research note on Sunday, October 30th. Zacks Investment Research upgraded 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 Glu Mobile and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Finally, Benchmark Co. lowered their target price on 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 issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $3.03.
Several hedge funds have recently made changes to their positions in GLUU. Sei Investments Co. bought a new stake in shares of Glu Mobile during the second quarter worth $425,000. Alliancebernstein L.P. boosted its stake in shares of Glu Mobile by 11.6% in the second quarter. Alliancebernstein L.P. now owns 111,000 shares of the company’s stock worth $244,000 after buying an additional 11,500 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in shares of Glu Mobile by 2.2% in the second quarter. BlackRock Investment Management LLC now owns 457,854 shares of the company’s stock worth $1,007,000 after buying an additional 9,939 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Glu Mobile by 489.3% in the second quarter. Prudential Financial Inc. now owns 64,434 shares of the company’s stock worth $142,000 after buying an additional 53,500 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Glu Mobile by 35.4% in the second quarter. Penserra Capital Management LLC now owns 58,024 shares of the company’s stock worth $128,000 after buying an additional 15,160 shares during the last quarter. Institutional investors and hedge funds own 23.69% of the company’s stock.
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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