Glu Mobile Inc. (NASDAQ:GLUU) Receives Consensus Rating of “Buy” from Analysts

Glu Mobile Inc. (NASDAQ:GLUU) has earned an average rating of “Buy” from the thirteen brokerages that are covering the firm, AnalystRatings.Net reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $5.65.

In related news, Director William J. Miller sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 16th. The stock was sold at an average price of $3.12, for a total transaction of $78,000.00. Following the completion of the sale, the director now directly owns 75,000 shares of the company’s stock, valued at approximately $234,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

An institutional investor recently raised its position in Glu Mobile stock. MUFG Americas boosted its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 11.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,490 shares of the company’s stock after buying an additional 260 shares during the period. MUFG Americas’ holdings in Glu Mobile were worth $11,000 at the end of the most recent reporting period.

Several research firms have recently issued reports on GLUU. Cowen and Company restated a “buy” rating and set a $8.00 price objective on shares of Glu Mobile in a report on Wednesday, September 23rd. Benchmark Co. reiterated a “buy” rating on shares of Glu Mobile in a report on Thursday, September 17th. Canaccord Genuity reiterated a “buy” rating and issued a $9.00 price target on shares of Glu Mobile in a report on Friday, October 2nd. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Wednesday, October 7th. Finally, Craig Hallum cut their price target on shares of Glu Mobile from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, November 6th.

Shares of Glu Mobile (NASDAQ:GLUU) traded down 3.909% during trading on Monday, reaching $2.335. 990,885 shares of the company’s stock traded hands. The company has a 50 day moving average price of $2.97 and a 200-day moving average price of $4.47. The stock’s market cap is $306.49 million. Glu Mobile has a one year low of $2.20 and a one year high of $7.03.

Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter. During the same quarter last year, the company earned $0.17 EPS. The company had revenue of $64.40 million for the quarter, compared to analyst estimates of $59.33 million. The business’s revenue was down 23.0% compared to the same quarter last year. On average, equities research analysts expect that Glu Mobile will post $0.07 EPS for the current fiscal year.

12 Month Chart for NASDAQ:GLUU

Glu Mobile Inc. develops, publishes and markets a portfolio of games. The Company offers games to a cross section of users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts, such as the Apple App Store, Google Play Store and Amazon Appstore, among others. The Company creates games based on its own brands, including Blood & Glory, Contract Killer, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros and Heroes of Destiny. The Company also creates games based on third-party licensed brands, including Kim Kardashian: Hollywood, Robocop: The Official Game, and Hercules: The Official Game, as well as its own branded games that incorporate third-party licensed brands, properties and other content, such as Racing Rivals and Tap Sports: Baseball. It released around 16 free-to-play games. It has around eight global studios that create and develop its games.

 

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