Todays Report: Today, Piper Jaffray Cos. Reaffirmed “Overweight” Rating for Glu Mobile Inc. (GLUU)

Today, Piper Jaffray Cos. Reaffirmed “Overweight” Rating for Glu Mobile Inc. (GLUU)

Glu Mobile Inc. (NASDAQ:GLUU)‘s stock had its “overweight” rating reiterated by Piper Jaffray Cos. in a research note issued to investors on Monday. They currently have a $3.00 price target on the stock. Piper Jaffray Cos.’s target price would indicate a potential upside of 34.53% from the stock’s current price.

A number of other research firms have also weighed in on GLUU. Northland Securities lowered shares of Glu Mobile from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. Canaccord Genuity reissued a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a report on Tuesday, November 1st. Wedbush set a $2.25 target price on shares of Glu Mobile and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Roth Capital reissued a “neutral” rating and set a $2.00 target price (down from $2.50) on shares of Glu Mobile in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $3.03.

Glu Mobile (NASDAQ:GLUU) traded down 3.04% during midday trading on Monday, reaching $2.23. 867,857 shares of the company’s stock traded hands. Glu Mobile has a 1-year low of $1.73 and a 1-year high of $4.00. The firm’s market cap is $297.62 million. 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 posted its earnings results on Thursday, November 3rd. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.30. Glu Mobile had a negative return on equity of 20.40% and a negative net margin of 33.99%. The business had revenue of $51.40 million for the quarter, compared to the consensus estimate of $50.93 million. During the same period in the previous year, the firm earned $0.06 earnings per share. The company’s revenue was down 18.8% compared to the same quarter last year. Equities research analysts anticipate that Glu Mobile will post ($0.38) EPS for the current year.

In related news, insider Masi Niccolo De bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were acquired at an average cost of $2.07 per share, with a total value of $41,400.00. Following the completion of the purchase, the insider now directly owns 675,936 shares in the company, valued at $1,399,187.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas Earl bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were bought at an average cost of $2.09 per share, for a total transaction of $209,000.00. Following the completion of the purchase, the chief executive officer now owns 184,638 shares of the company’s stock, valued at $385,893.42. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of GLUU. California State Teachers Retirement System raised its position in shares of 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 in the last quarter. Nationwide Fund Advisors raised its position in shares of 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 in the last quarter. BlackRock Advisors LLC raised its position in shares of 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. Rhumbline Advisers raised its position in shares of 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 in the last quarter. Finally, BlackRock Investment Management LLC raised its position 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 valued at $1,007,000 after buying an additional 9,939 shares in the last quarter. 23.69% of the stock is currently owned by institutional investors and hedge funds.

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