Glu Mobile (GLUU) Rating Increased to Strong-Buy at BidaskClub

Glu Mobile (NASDAQ:GLUU) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Several other brokerages have also weighed in on GLUU. Piper Jaffray Companies started coverage on Glu Mobile in a research report on Friday, June 15th. They set an “overweight” rating and a $7.50 target price on the stock. Wedbush set a $7.00 target price on Glu Mobile and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Stifel Nicolaus raised their target price on Glu Mobile from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Tuesday, August 7th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $6.14.

Shares of NASDAQ GLUU opened at $7.60 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Glu Mobile has a fifty-two week low of $3.02 and a fifty-two week high of $7.80. The stock has a market cap of $1.06 billion, a PE ratio of -14.90, a price-to-earnings-growth ratio of 6.22 and a beta of 1.19.



Glu Mobile (NASDAQ:GLUU) last issued its earnings results on Tuesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.08). Glu Mobile had a negative return on equity of 26.30% and a negative net margin of 18.88%. The business had revenue of $90.20 million for the quarter, compared to analyst estimates of $91.56 million. During the same period last year, the business posted ($0.17) EPS. Glu Mobile’s revenue was up 31.3% on a year-over-year basis. equities analysts forecast that Glu Mobile will post 0.08 EPS for the current year.

In other Glu Mobile news, VP Scott Leichtner sold 105,000 shares of Glu Mobile stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $6.20, for a total transaction of $651,000.00. Following the transaction, the vice president now owns 268,338 shares of the company’s stock, valued at $1,663,695.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Eric R. Ludwig sold 142,500 shares of Glu Mobile stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $7.32, for a total value of $1,043,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 485,000 shares of company stock worth $3,231,825. 5.80% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLUU. Wells Fargo & Company MN increased its position in Glu Mobile by 12.7% during the first quarter. Wells Fargo & Company MN now owns 171,138 shares of the company’s stock worth $645,000 after buying an additional 19,276 shares during the period. Prudential Financial Inc. increased its position in Glu Mobile by 16.6% during the first quarter. Prudential Financial Inc. now owns 79,264 shares of the company’s stock worth $299,000 after buying an additional 11,300 shares during the period. Schwab Charles Investment Management Inc. increased its position in Glu Mobile by 11.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 234,258 shares of the company’s stock worth $884,000 after buying an additional 25,000 shares during the period. Rothschild Asset Management Inc. acquired a new position in Glu Mobile during the first quarter worth approximately $7,082,000. Finally, Northern Trust Corp increased its position in Glu Mobile by 1.9% during the first quarter. Northern Trust Corp now owns 1,156,223 shares of the company’s stock worth $4,359,000 after buying an additional 22,065 shares during the period. 54.17% of the stock is currently owned by institutional investors.

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 in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.

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Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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