Glu Mobile (NASDAQ:GLUU) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Glu Mobile (NASDAQ:GLUU) from a buy rating to a hold rating in a research note released on Thursday, ValuEngine reports.

GLUU has been the subject of a number of other reports. Wedbush reissued a buy rating and set a $9.00 target price on shares of Glu Mobile in a research note on Friday, July 26th. BidaskClub raised Glu Mobile from a sell rating to a hold rating in a research note on Tuesday, July 16th. Zacks Investment Research raised Glu Mobile from a sell rating to a hold rating in a research note on Wednesday. Stephens set a $12.00 target price on Glu Mobile and gave the stock a buy rating in a research note on Thursday, June 6th. Finally, Piper Jaffray Companies increased their target price on Glu Mobile from $11.00 to $12.00 and gave the stock an overweight rating in a research note on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Glu Mobile has a consensus rating of Buy and a consensus price target of $9.08.

Shares of GLUU stock traded down $2.77 on Thursday, reaching $4.82. The company had a trading volume of 22,345,652 shares, compared to its average volume of 2,702,806. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $700.11 million, a PE ratio of -60.25, a PEG ratio of 2.76 and a beta of 0.84. The stock’s 50-day simple moving average is $7.24. Glu Mobile has a 12 month low of $4.30 and a 12 month high of $11.75.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $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 $101.90 million during the quarter, compared to analysts’ expectations of $100.93 million. During the same period in the prior year, the business posted ($0.03) EPS. Glu Mobile’s revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Glu Mobile will post 0.18 EPS for the current year.

In other Glu Mobile news, Director Greg Brandeau sold 4,166 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $7.10, for a total transaction of $29,578.60. Following the completion of the transaction, the director now owns 41,664 shares of the company’s stock, valued at approximately $295,814.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was 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 7,268,064 shares of company stock valued at $56,322,745. 6.84% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Creative Planning boosted its position in Glu Mobile by 14.8% during the 2nd quarter. Creative Planning now owns 11,650 shares of the company’s stock worth $84,000 after acquiring an additional 1,500 shares during the last quarter. Brookstone Capital Management boosted its position in Glu Mobile by 14.8% during the 1st quarter. Brookstone Capital Management now owns 17,053 shares of the company’s stock worth $187,000 after acquiring an additional 2,200 shares during the last quarter. Legal & General Group Plc boosted its position in Glu Mobile by 16.0% during the 4th quarter. Legal & General Group Plc now owns 21,602 shares of the company’s stock worth $174,000 after acquiring an additional 2,976 shares during the last quarter. Cim LLC boosted its position in Glu Mobile by 21.4% during the 1st quarter. Cim LLC now owns 21,485 shares of the company’s stock worth $235,000 after acquiring an additional 3,785 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Glu Mobile by 20.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 22,588 shares of the company’s stock worth $171,000 after acquiring an additional 3,846 shares during the last quarter. 58.38% of the stock is owned by hedge funds and other institutional investors.

About Glu Mobile

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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Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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