Glu Mobile (NASDAQ:GLUU) Upgraded to Buy at Roth Capital

Roth Capital upgraded shares of Glu Mobile (NASDAQ:GLUU) from a neutral rating to a buy rating in a research report released on Wednesday, BenzingaRatingsTable reports. Roth Capital currently has $7.00 price target on the stock.

Other analysts also recently issued reports about the stock. Stephens set a $8.00 price objective on shares of Glu Mobile and gave the company a buy rating in a report on Friday, September 6th. Piper Jaffray Companies decreased their price objective on shares of Glu Mobile from $12.00 to $7.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Benchmark decreased their price objective on shares of Glu Mobile from $14.00 to $8.00 and set a buy rating on the stock in a report on Friday, August 2nd. Wedbush reduced their target price on shares of Glu Mobile from $9.00 to $8.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Finally, ValuEngine cut shares of Glu Mobile from a buy rating to a hold rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $7.61.

Shares of Glu Mobile stock traded down $0.12 during mid-day trading on Wednesday, reaching $5.46. 2,633,952 shares of the stock were exchanged, compared to its average volume of 2,729,990. The company has a market cap of $814.04 million, a price-to-earnings ratio of -68.25, a price-to-earnings-growth ratio of 3.08 and a beta of 1.04. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.17. The firm has a 50-day simple moving average of $5.16 and a 200 day simple moving average of $8.05. Glu Mobile has a fifty-two week low of $4.11 and a fifty-two week high of $11.75.



Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $101.90 million during the quarter, compared to analysts’ expectations of $100.93 million. Glu Mobile had a net margin of 0.41% and a return on equity of 3.39%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. On average, research analysts predict that Glu Mobile will post 0.11 EPS for the current fiscal year.

In related news, VP Scott Leichtner sold 54,357 shares of Glu Mobile stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $4.56, for a total value of $247,867.92. Following the completion of the sale, the vice president now owns 252,669 shares of the company’s stock, valued at approximately $1,152,170.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Greg Brandeau sold 4,166 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $7.10, for a total value 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 disclosure for this sale can be found here. 6.84% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Aperio Group LLC bought a new stake in Glu Mobile in the 2nd quarter worth approximately $56,000. Wedbush Securities Inc. purchased a new position in shares of Glu Mobile during the second quarter valued at approximately $75,000. Stansberry Asset Management LLC purchased a new stake in Glu Mobile in the second quarter worth $77,000. Bank of Montreal Can grew its stake in Glu Mobile by 491.7% in the second quarter. Bank of Montreal Can now owns 11,526 shares of the company’s stock worth $83,000 after purchasing an additional 9,578 shares during the period. Finally, Creative Planning grew its stake in Glu Mobile by 14.8% in the second quarter. Creative Planning now owns 11,650 shares of the company’s stock worth $84,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 65.86% of the company’s stock.

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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