Canaccord Genuity reiterated their hold rating on shares of Glu Mobile Inc. (NASDAQ:GLUU) in a research report released on Tuesday. Canaccord Genuity currently has a $3.00 target price on the stock.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Glu Mobile from a sell rating to a hold rating in a research report on Tuesday, August 9th. Wedbush cut their target price on Glu Mobile from $2.65 to $2.45 and set a neutral rating for the company in a research report on Friday, July 29th. Roth Capital restated a neutral rating and issued a $2.00 target price (down from $2.50) on shares of Glu Mobile in a research report on Friday, August 5th. Finally, Northland Securities downgraded Glu Mobile from an outperform rating to a market perform rating in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $3.41.
Glu Mobile (NASDAQ:GLUU) opened at 2.19 on Tuesday. Glu Mobile has a 1-year low of $1.98 and a 1-year high of $4.45. The company has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.43. The stock’s market capitalization is $291.26 million.
Glu Mobile (NASDAQ:GLUU) last released its earnings results on Tuesday, August 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm earned $48.40 million during the quarter, compared to the consensus estimate of $47.25 million. Glu Mobile had a negative return on equity of 4.78% and a negative net margin of 12.90%. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. On average, equities analysts predict that Glu Mobile will post ($0.15) EPS for the current year.
In other news, CFO Eric R. Ludwig sold 26,119 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory J. Cannon sold 55,000 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $2.50, for a total transaction of $137,500.00. Following the completion of the transaction, the vice president now directly owns 83,771 shares in the company, valued at $209,427.50. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY increased its position in Glu Mobile by 1.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 85,369 shares of the company’s stock worth $241,000 after buying an additional 1,225 shares during the period. Nationwide Fund Advisors increased its position in Glu Mobile by 3.1% in the second quarter. Nationwide Fund Advisors now owns 78,811 shares of the company’s stock worth $173,000 after buying an additional 2,398 shares during the period. Rhumbline Advisers increased its position in Glu Mobile by 3.4% in the second quarter. Rhumbline Advisers now owns 152,401 shares of the company’s stock worth $335,000 after buying an additional 4,991 shares during the period. BlackRock Investment Management LLC increased its position in 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 period. Finally, Alliancebernstein L.P. increased its position in 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 period. 28.08% of the stock is currently owned by institutional investors and hedge funds.
Glu Mobile Company Profile