Glu Mobile Inc. (NASDAQ:GLUU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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 research analysts have also recently commented on the stock. Mizuho started coverage on shares of Glu Mobile in a research note on Friday, December 30th. They set a “neutral” rating and a $2.30 target price on the stock. Roth Capital set a $2.00 target price on shares of Glu Mobile and gave the stock a “hold” rating in a research note on Wednesday, January 11th. Canaccord Genuity restated a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a research note on Friday, February 10th. Finally, Wedbush set a $2.00 target price on shares of Glu Mobile and gave the stock a “hold” rating in a research note on Wednesday, February 8th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $2.66.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 2.13 on Friday. The stock has a 50 day moving average of $2.13 and a 200-day moving average of $2.14. Glu Mobile has a one year low of $1.73 and a one year high of $3.27. The company’s market capitalization is $286.95 million.
Glu Mobile (NASDAQ:GLUU) last released its earnings results on Wednesday, February 8th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.06. Glu Mobile had a negative return on equity of 27.11% and a negative net margin of 43.59%. The firm had revenue of $46.30 million for the quarter, compared to the consensus estimate of $47.04 million. During the same quarter in the previous year, the business posted $0.02 EPS. Glu Mobile’s revenue was down 24.1% on a year-over-year basis. On average, equities analysts expect that Glu Mobile will post ($0.17) earnings per share for the current year.
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A number of large investors have recently made changes to their positions in GLUU. Raging Capital Management LLC raised its stake in shares of Glu Mobile by 8.6% in the fourth quarter. Raging Capital Management LLC now owns 6,037,648 shares of the company’s stock worth $11,713,000 after buying an additional 479,099 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Glu Mobile by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 370,072 shares of the company’s stock worth $718,000 after buying an additional 28,041 shares during the period. State Street Corp raised its stake in shares of Glu Mobile by 2.4% in the fourth quarter. State Street Corp now owns 1,799,025 shares of the company’s stock worth $3,493,000 after buying an additional 41,559 shares during the period. Engineers Gate Manager LP raised its stake in shares of Glu Mobile by 1,230.8% in the third quarter. Engineers Gate Manager LP now owns 137,707 shares of the company’s stock worth $308,000 after buying an additional 127,359 shares during the period. Finally, Penserra Capital Management LLC raised its stake in shares of Glu Mobile by 111.5% in the third quarter. Penserra Capital Management LLC now owns 122,713 shares of the company’s stock worth $274,000 after buying an additional 64,689 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.
Glu Mobile Company Profile
Glu Mobile Inc develops, publishes and markets a portfolio of games. The Company’s games appeal to a cross section of the users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts. It operates through mobile games segment. It operates in various geographical regions, including the United States; Americas, excluding the United States; Europe, the Middle East and Africa (EMEA), and Asia Pacific.
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