Glu Mobile (GLUU) Sets New 1-Year High and Low at $5.74

Shares of Glu Mobile (NASDAQ:GLUU) reached a new 52-week high and low during trading on Thursday . The stock traded as low as $5.74 and last traded at $5.73, with a volume of 103442 shares trading hands. The stock had previously closed at $5.57.

Several analysts have recently commented on GLUU shares. BidaskClub raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a report on Tuesday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $4.75 price objective on shares of Glu Mobile in a report on Friday, February 9th. Zacks Investment Research downgraded shares of Glu Mobile from a “hold” rating to a “strong sell” rating in a report on Thursday, February 8th. ValuEngine downgraded shares of Glu Mobile from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Finally, Wedbush set a $5.00 price objective on shares of Glu Mobile and gave the company a “hold” rating in a report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Glu Mobile presently has an average rating of “Buy” and an average price target of $4.64.

The firm has a market capitalization of $770.92 million, a PE ratio of -11.20, a price-to-earnings-growth ratio of 6.90 and a beta of 1.35. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.04.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Tuesday, May 1st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. Glu Mobile had a negative net margin of 26.33% and a negative return on equity of 34.72%. The firm had revenue of $81.44 million for the quarter, compared to the consensus estimate of $73.20 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The firm’s quarterly revenue was up 43.4% compared to the same quarter last year. analysts anticipate that Glu Mobile will post 0.05 EPS for the current fiscal year.

In other news, CRO Chris Akhavan sold 64,900 shares of the stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $5.51, for a total value of $357,599.00. Following the completion of the sale, the executive now directly owns 95,724 shares in the company, valued at $527,439.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 50,000 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $5.40, for a total transaction of $270,000.00. Following the completion of the sale, the director now owns 78,666 shares of the company’s stock, valued at $424,796.40. The disclosure for this sale can be found here. Insiders have sold 601,004 shares of company stock worth $3,034,061 over the last three months. 5.80% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC purchased a new position in Glu Mobile during the fourth quarter worth about $110,000. Two Sigma Securities LLC acquired a new stake in Glu Mobile during the fourth quarter worth approximately $134,000. Teacher Retirement System of Texas acquired a new stake in Glu Mobile during the fourth quarter worth approximately $139,000. Stone Ridge Asset Management LLC acquired a new stake in Glu Mobile during the fourth quarter worth approximately $181,000. Finally, Macquarie Group Ltd. raised its holdings in Glu Mobile by 154.5% during the fourth quarter. Macquarie Group Ltd. now owns 53,700 shares of the company’s stock worth $195,000 after purchasing an additional 32,600 shares in the last quarter. Hedge funds and other institutional investors own 41.59% of the company’s stock.

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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