Glu Mobile Inc. (NASDAQ:GLUU)’s share price was up 5.3% during trading on Friday . The company traded as high as $7.87 and last traded at $7.68, approximately 4,713,653 shares were traded during mid-day trading. An increase of 91% from the average daily volume of 2,473,073 shares. The stock had previously closed at $7.29.
A number of equities analysts recently commented on GLUU shares. BidaskClub cut Zebra Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Wedbush raised their target price on SVB Financial Group from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Friday. ValuEngine raised Vale from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Stephens set a $12.00 target price on Glu Mobile and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Zacks Investment Research cut Phoenix New Media from a “hold” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Glu Mobile has a consensus rating of “Buy” and a consensus price target of $9.92.
The stock has a fifty day simple moving average of $7.25. The company has a market capitalization of $1.08 billion, a P/E ratio of -96.00, a P/E/G ratio of 2.75 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 1.35.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Monday, May 6th. The company reported $0.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.01. Glu Mobile had a negative return on equity of 0.92% and a negative net margin of 1.40%. The company had revenue of $92.60 million for the quarter, compared to analysts’ expectations of $89.74 million. During the same period last year, the firm earned ($0.05) EPS. Glu Mobile’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that Glu Mobile Inc. will post 0.18 EPS for the current fiscal year.
In other Glu Mobile news, insider Masi Niccolo De sold 90,714 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $10.75, for a total transaction of $975,175.50. Following the sale, the insider now directly owns 770,065 shares of the company’s stock, valued at $8,278,198.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $7.75, for a total value of $56,262,892.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,358,778 shares of company stock worth $57,297,920. Insiders own 6.84% of the company’s stock.
Large investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Glu Mobile during the first quarter valued at about $49,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Glu Mobile during the first quarter valued at about $66,000. Advisor Group Inc. raised its holdings in Glu Mobile by 12,412.0% during the fourth quarter. Advisor Group Inc. now owns 9,384 shares of the company’s stock valued at $75,000 after acquiring an additional 9,309 shares during the period. Creative Planning bought a new stake in Glu Mobile during the first quarter valued at about $111,000. Finally, Virtu Financial LLC bought a new stake in Glu Mobile during the first quarter valued at about $124,000. 57.89% of the stock is currently owned by institutional investors and hedge funds.
About Glu Mobile (NASDAQ:GLUU)
Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles primarily in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.
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