Glu Mobile (NASDAQ:GLUU) Upgraded to Buy by Benchmark

Benchmark upgraded shares of Glu Mobile (NASDAQ:GLUU) to a buy rating in a research note released on Tuesday, TipRanks reports. Benchmark currently has $8.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Glu Mobile from a buy rating to a hold rating in a research note on Tuesday, August 13th. Piper Jaffray Companies cut their price objective on shares of Glu Mobile from $12.00 to $7.00 and set an overweight rating for the company in a research report on Friday, August 2nd. BidaskClub raised shares of Glu Mobile from a sell rating to a hold rating in a research note on Saturday. Wedbush decreased their target price on shares of Glu Mobile from $9.00 to $8.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. Finally, Stephens set a $8.00 target price on shares of Glu Mobile and gave the stock a buy rating in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $7.61.

Shares of NASDAQ GLUU traded up $0.47 during trading on Tuesday, reaching $5.58. The company had a trading volume of 6,294,609 shares, compared to its average volume of 2,729,707. Glu Mobile has a twelve month low of $4.11 and a twelve month high of $11.75. The stock has a market capitalization of $713.38 million, a PE ratio of -69.75, a price-to-earnings-growth ratio of 3.08 and a beta of 1.04. The stock has a 50-day moving average price of $5.16 and a two-hundred day moving average price of $8.05. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.17.



Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business 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 3.39% and a net margin of 0.41%. The business’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) earnings per share. On average, sell-side analysts predict that Glu Mobile will post 0.11 EPS for the current year.

In other news, VP Scott Leichtner sold 54,357 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $4.56, for a total transaction of $247,867.92. Following the completion of the transaction, the vice president now owns 252,669 shares of the company’s stock, valued at approximately $1,152,170.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Greg Brandeau sold 4,166 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $7.10, for a total transaction of $29,578.60. Following the transaction, the director now directly owns 41,664 shares of the company’s stock, valued at approximately $295,814.40. The disclosure for this sale can be found here. Corporate insiders own 6.84% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Glu Mobile by 31.4% during the first quarter. JPMorgan Chase & Co. now owns 4,292,458 shares of the company’s stock worth $46,960,000 after purchasing an additional 1,026,230 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in shares of Glu Mobile by 8.4% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 90,000 shares of the company’s stock valued at $646,000 after buying an additional 7,000 shares during the period. SG Americas Securities LLC increased its holdings in shares of Glu Mobile by 41.2% during the 2nd quarter. SG Americas Securities LLC now owns 238,686 shares of the company’s stock worth $1,714,000 after buying an additional 69,628 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of Glu Mobile by 4.9% during the 2nd quarter. Artemis Investment Management LLP now owns 1,599,507 shares of the company’s stock worth $11,156,000 after buying an additional 74,794 shares during the last quarter. Finally, Emerald Advisers LLC raised its position in shares of Glu Mobile by 15.9% in the 2nd quarter. Emerald Advisers LLC now owns 2,733,514 shares of the company’s stock worth $19,627,000 after buying an additional 374,859 shares during the period. 65.86% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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