Glu Mobile (NASDAQ:GLUU) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Glu Mobile (NASDAQ:GLUU) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “GLU MOBILE INC., is a leading global publisher of mobile games. Its portfolio of top-rated games includes original titles Super K.O. Boxing!, Stranded and Brain Genius, and titles based on major brands from partners including Atari, Activision, Konami, Harrah’s, Hasbro, Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony. Glu is based in San Mateo, Calif. and has offices in London, France, Germany, Spain, Italy, Sweden, Poland, Russia, Hong Kong, China, Brazil, Chile, Canada and San Clemente, Calif. “

A number of other equities analysts have also recently issued reports on the company. BidaskClub upgraded Glu Mobile from a sell rating to a hold rating in a report on Tuesday, July 16th. Piper Jaffray Companies decreased their target price on 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 target price on Glu Mobile from $14.00 to $8.00 and set a buy rating on the stock in a report on Friday, August 2nd. Stephens set a $12.00 target price on Glu Mobile and gave the stock a buy rating in a report on Thursday, June 6th. Finally, ValuEngine cut Glu Mobile from a buy rating to a hold rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $8.38.

Shares of GLUU stock opened at $4.65 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $729.17 million, a PE ratio of -58.13, a PEG ratio of 3.16 and a beta of 0.84. The firm’s fifty day moving average price is $6.74. Glu Mobile has a 1 year low of $4.30 and a 1 year high of $11.75.

Glu Mobile (NASDAQ:GLUU) last issued its earnings results on Thursday, August 1st. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $101.90 million for the quarter, compared to analysts’ expectations of $100.93 million. Glu Mobile had a return on equity of 3.43% and a net margin of 0.41%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, sell-side analysts predict that Glu Mobile will post 0.11 EPS for the current year.

In other news, Director Greg Brandeau sold 4,170 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $7.26, for a total value of $30,274.20. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at $363,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $7.75, for a total value of $56,262,892.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,268,064 shares of company stock valued at $56,322,745. 6.84% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Glu Mobile during the first quarter valued at $49,000. Aperio Group LLC acquired a new stake in Glu Mobile during the second quarter valued at $56,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Glu Mobile during the first quarter valued at $66,000. Wedbush Securities Inc. acquired a new stake in Glu Mobile during the second quarter valued at $75,000. Finally, Stansberry Asset Management LLC acquired a new stake in Glu Mobile during the second quarter valued at $77,000. 59.02% of the stock is owned by institutional investors and hedge funds.

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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