Glu Mobile (GLUU) Announces Quarterly Earnings Results

Glu Mobile (NASDAQ:GLUU) announced its earnings results on Thursday. The company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.23), reports. The firm had revenue of $80.20 million during the quarter, compared to analyst estimates of $75.50 million. Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. Glu Mobile’s revenue was up 73.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.13) earnings per share.

Glu Mobile (NASDAQ GLUU) traded down $0.04 during midday trading on Thursday, hitting $3.42. 3,102,597 shares of the company’s stock were exchanged, compared to its average volume of 2,970,581. The stock has a market capitalization of $486.47, a PE ratio of -6.11 and a beta of 1.61. Glu Mobile has a fifty-two week low of $1.85 and a fifty-two week high of $4.95. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03.

A number of research analysts have issued reports on the stock. BidaskClub raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $4.50 price target (up previously from $3.30) on shares of Glu Mobile in a report on Tuesday, October 31st. Canaccord Genuity reaffirmed a “hold” rating and issued a $3.00 price target on shares of Glu Mobile in a report on Monday, October 30th. Wedbush set a $5.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $3.97.

In other Glu Mobile news, COO Eric R. Ludwig sold 33,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $3.90, for a total value of $128,700.00. Following the completion of the transaction, the chief operating officer now owns 72,000 shares of the company’s stock, valued at $280,800. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.60% of the company’s stock.

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Glu Mobile Company Profile

Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.

Earnings History for Glu Mobile (NASDAQ:GLUU)

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