ValuEngine lowered shares of Glu Mobile (NASDAQ:GLUU) from a hold rating to a sell rating in a report released on Friday morning.

Several other analysts have also issued reports on the stock. Stifel Nicolaus reissued a buy rating and issued a $4.50 price target (up previously from $3.30) on shares of Glu Mobile in a research report on Tuesday, October 31st. Canaccord Genuity reissued a hold rating and issued a $3.00 price target on shares of Glu Mobile in a research report on Monday, October 30th. Wedbush set a $5.00 price target on shares of Glu Mobile and gave the company a hold rating in a research report on Wednesday, October 18th. Zacks Investment Research raised shares of Glu Mobile from a hold rating to a buy rating and set a $4.25 price target on the stock in a research report on Thursday, October 5th. Finally, Roth Capital reissued a buy rating and issued a $4.75 price target (up previously from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $3.97.

Glu Mobile (NASDAQ:GLUU) traded up $0.10 during midday trading on Friday, hitting $4.01. 4,442,100 shares of the stock traded hands, compared to its average volume of 4,576,545. Glu Mobile has a one year low of $1.85 and a one year high of $4.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09.

Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.67 million. During the same period last year, the firm earned ($0.33) EPS. The business’s revenue for the quarter was up 57.8% on a year-over-year basis. research analysts predict that Glu Mobile will post -0.18 earnings per share for the current fiscal year.

In related news, insider Masi Niccolo De sold 131,966 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $3.70, for a total transaction of $488,274.20. Following the completion of the transaction, the insider now owns 512,859 shares of the company’s stock, valued at $1,897,578.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Eric R. Ludwig sold 160,000 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $3.67, for a total transaction of $587,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,196,422 shares of company stock valued at $5,055,591. 5.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Glu Mobile by 8.0% in the 1st quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock worth $10,595,000 after buying an additional 344,727 shares in the last quarter. Northern Right Capital Management L.P. grew its stake in Glu Mobile by 109.9% in the 2nd quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after buying an additional 1,444,816 shares in the last quarter. State Street Corp grew its stake in Glu Mobile by 6.7% in the 2nd quarter. State Street Corp now owns 1,914,877 shares of the company’s stock worth $4,791,000 after buying an additional 120,550 shares in the last quarter. Northern Trust Corp grew its stake in Glu Mobile by 1.8% in the 2nd quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock worth $2,857,000 after buying an additional 20,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Glu Mobile by 192.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,098,454 shares of the company’s stock worth $4,130,000 after buying an additional 722,564 shares in the last quarter. 35.66% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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