Glu Mobile (NASDAQ:GLUU) Announces Earnings Results

Glu Mobile (NASDAQ:GLUU) released its earnings results on Thursday. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01, Briefing.com reports. Glu Mobile had a return on equity of 3.43% and a net margin of 0.41%. The company had revenue of $101.90 million during the quarter, compared to the consensus estimate of $100.93 million. During the same quarter last year, the company earned ($0.03) earnings per share. Glu Mobile’s quarterly revenue was up 2.5% compared to the same quarter last year.

Shares of NASDAQ:GLUU traded down $2.77 during midday trading on Friday, hitting $4.82. 22,345,652 shares of the stock were exchanged, compared to its average volume of 2,883,795. The company has a market capitalization of $1.10 billion, a PE ratio of -60.25, a P/E/G ratio of 2.81 and a beta of 0.84. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16. Glu Mobile has a twelve month low of $4.30 and a twelve month high of $11.75. The firm has a 50 day simple moving average of $7.24.

In other news, Director Greg Brandeau sold 4,166 shares of Glu Mobile stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of Glu Mobile stock in a transaction 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. Insiders have sold a total of 7,268,064 shares of company stock valued at $56,322,745 in the last ninety days. Corporate insiders own 6.84% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC purchased a new stake in shares of Glu Mobile during the 2nd quarter worth about $273,000. Hillsdale Investment Management Inc. grew its holdings in shares of Glu Mobile by 15.9% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 75,200 shares of the company’s stock worth $540,000 after purchasing an additional 10,300 shares during the period. Swiss National Bank grew its holdings in shares of Glu Mobile by 2.2% during the 2nd quarter. Swiss National Bank now owns 213,300 shares of the company’s stock worth $1,531,000 after purchasing an additional 4,500 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of Glu Mobile during the 2nd quarter worth about $75,000. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in shares of Glu Mobile by 16.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 2,493,485 shares of the company’s stock worth $17,903,000 after purchasing an additional 353,391 shares during the period. 58.38% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the company. ValuEngine downgraded Glu Mobile from a “buy” rating to a “hold” rating in a report on Thursday. Stephens set a $12.00 target price on Glu Mobile and gave the company a “buy” rating in a report on Thursday, June 6th. Piper Jaffray Companies reduced their target price on Glu Mobile from $12.00 to $7.00 and set an “overweight” rating for the company in a report on Friday. BidaskClub raised Glu Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Wedbush cut their price target on Glu Mobile from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Friday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $9.08.

Glu Mobile Company Profile

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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Earnings History for Glu Mobile (NASDAQ:GLUU)

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