Zacks Investment Research Upgrades Glu Mobile Inc. (GLUU) to “Hold”
Glu Mobile Inc. (NASDAQ:GLUU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
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. “
Other equities analysts have also recently issued research reports about the stock. Mizuho boosted their price target on shares of Glu Mobile from $2.30 to $2.40 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Wedbush set a $2.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a research note on Wednesday, February 8th. Canaccord Genuity reissued a “hold” rating and issued a $3.00 price target on shares of Glu Mobile in a research note on Friday, February 3rd. Finally, Roth Capital set a $2.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a research note on Monday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $2.66.
Glu Mobile (NASDAQ:GLUU) opened at 2.13 on Friday. Glu Mobile has a one year low of $1.73 and a one year high of $3.27. The firm’s market cap is $286.95 million. The stock has a 50 day moving average of $2.13 and a 200 day moving average of $2.14.
Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings results on Wednesday, February 8th. The company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. Glu Mobile had a negative return on equity of 27.11% and a negative net margin of 43.59%. The company earned $46.30 million during the quarter, compared to analysts’ expectations of $47.04 million. During the same period in the prior year, the firm earned $0.02 EPS. Glu Mobile’s quarterly revenue was down 24.1% on a year-over-year basis. Equities research analysts predict that Glu Mobile will post ($0.17) EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in GLUU. Dimensional Fund Advisors LP raised its stake in shares of Glu Mobile by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 370,072 shares of the company’s stock worth $718,000 after buying an additional 28,041 shares during the last quarter. State Street Corp raised its stake in shares of Glu Mobile by 2.4% in the fourth quarter. State Street Corp now owns 1,799,025 shares of the company’s stock worth $3,493,000 after buying an additional 41,559 shares during the last quarter. Capital Advisors Inc. OK acquired a new stake in shares of Glu Mobile during the third quarter worth $103,000. Penserra Capital Management LLC raised its stake in shares of Glu Mobile by 111.5% in the third quarter. Penserra Capital Management LLC now owns 122,713 shares of the company’s stock worth $274,000 after buying an additional 64,689 shares during the last quarter. Finally, Engineers Gate Manager LP raised its stake in shares of Glu Mobile by 1,230.8% in the third quarter. Engineers Gate Manager LP now owns 137,707 shares of the company’s stock worth $308,000 after buying an additional 127,359 shares during the last quarter. Hedge funds and other institutional investors own 26.56% 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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