Today, Glu Mobile Inc. (GLUU) Rating Reiterate by Cowen and Company

Today, Glu Mobile Inc. (GLUU) Rating Reiterate by Cowen and Company

Glu Mobile Inc. (NASDAQ:GLUU)‘s stock had its “outperform” rating restated by equities researchers at Cowen and Company in a report issued on Monday. They currently have a $3.00 target price on the stock. Cowen and Company’s price target indicates a potential upside of 34.53% from the stock’s current price.

A number of other research analysts also recently issued reports on GLUU. Roth Capital set a $2.00 price objective on Glu Mobile and gave the company a “hold” rating in a research note on Sunday, October 30th. Canaccord Genuity reiterated a “hold” rating and set a $3.00 price objective on shares of Glu Mobile in a research note on Tuesday, November 1st. Wedbush set a $2.25 price objective on Glu Mobile and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded Glu Mobile from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Northland Securities downgraded Glu Mobile from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. One equities 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 issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.03.

Glu Mobile (NASDAQ:GLUU) traded down 3.04% on Monday, hitting $2.23. 867,857 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $2.05 and a 200-day moving average price of $2.25. The stock’s market cap is $297.62 million. Glu Mobile has a 12 month low of $1.73 and a 12 month high of $4.00.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.30. The company had revenue of $51.40 million for the quarter, compared to the consensus estimate of $50.93 million. Glu Mobile had a negative net margin of 33.99% and a negative return on equity of 20.40%. The company’s revenue was down 18.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. Equities analysts predict that Glu Mobile will post ($0.38) earnings per share for the current fiscal year.

In related news, insider Masi Niccolo De purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were bought at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the acquisition, the insider now owns 675,936 shares of the company’s stock, valued at approximately $1,399,187.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric R. Ludwig sold 26,119 shares of the stock in a transaction on Monday, August 29th. The shares were 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. Insiders own 4.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in GLUU. California State Teachers Retirement System raised its stake in Glu Mobile by 0.7% in the third quarter. California State Teachers Retirement System now owns 217,307 shares of the company’s stock valued at $487,000 after buying an additional 1,500 shares during the last quarter. Nationwide Fund Advisors raised its stake in Glu Mobile by 3.1% in the second quarter. Nationwide Fund Advisors now owns 78,811 shares of the company’s stock valued at $173,000 after buying an additional 2,398 shares during the last quarter. BlackRock Advisors LLC raised 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 during the last quarter. Rhumbline Advisers raised its stake in Glu Mobile by 3.4% in the second quarter. Rhumbline Advisers now owns 152,401 shares of the company’s stock valued at $335,000 after buying an additional 4,991 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its stake 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 during the last quarter. Institutional investors own 23.69% of the company’s stock.

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