Glu Mobile Inc. (NASDAQ:GLUU) Sees Large Growth in Short Interest

Glu Mobile Inc. (NASDAQ:GLUU) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 14,093,100 shares, a growth of 61.0% from the June 30th total of 8,753,900 shares. Approximately 12.5% of the shares of the company are short sold. Based on an average trading volume of 3,130,000 shares, the days-to-cover ratio is currently 4.5 days.

In other 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 directly owns 41,664 shares of the company’s stock, valued at approximately $295,814.40. The sale was disclosed in a filing with the SEC, which is available at this link. 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. Insiders sold 7,268,064 shares of company stock valued at $56,322,745 over the last three months. 6.84% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Glu Mobile during the 1st quarter valued at $49,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Glu Mobile during the first quarter worth approximately $66,000. Aperio Group LLC purchased a new stake in shares of Glu Mobile during the second quarter worth approximately $56,000. Advisor Group Inc. grew its holdings in Glu Mobile by 12,412.0% in the 4th quarter. Advisor Group Inc. now owns 9,384 shares of the company’s stock valued at $75,000 after buying an additional 9,309 shares in the last quarter. Finally, Creative Planning purchased a new stake in Glu Mobile in the 1st quarter valued at $111,000. 58.51% of the stock is currently owned by institutional investors.

GLUU stock traded down $0.26 during mid-day trading on Monday, reaching $4.76. The company had a trading volume of 2,610,900 shares, compared to its average volume of 2,705,967. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $713.18 million, a P/E ratio of -59.50, a price-to-earnings-growth ratio of 3.26 and a beta of 0.84. The company has a fifty day moving average of $6.79. Glu Mobile has a fifty-two week low of $4.30 and a fifty-two week high of $11.75.

Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $101.90 million for the quarter, compared to analyst estimates of $100.93 million. Glu Mobile had a return on equity of 3.43% and a net margin of 0.41%. Glu Mobile’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. Sell-side analysts predict that Glu Mobile will post 0.11 EPS for the current year.

Several analysts recently commented on the company. Stephens set a $12.00 price target on Glu Mobile and gave the stock a “buy” rating in a research report on Thursday, June 6th. Piper Jaffray Companies lowered their price target on Glu Mobile from $12.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Benchmark lowered their price target on Glu Mobile from $14.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Wedbush lowered their price target on Glu Mobile from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.38.

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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