BidaskClub Upgrades Glu Mobile (NASDAQ:GLUU) to “Hold”
A number of other equities analysts have also recently issued reports on the stock. Benchmark cut their target price on shares of Glu Mobile from $14.00 to $8.00 and set a buy rating on the stock in a report on Friday, August 2nd. Piper Jaffray Companies lowered their target price on Glu Mobile from $12.00 to $7.00 and set an overweight rating for the company in a report on Friday, August 2nd. Wedbush dropped their price target on Glu Mobile from $9.00 to $8.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. Zacks Investment Research cut Glu Mobile from a buy rating to a hold rating in a research report on Tuesday, August 13th. Finally, Stephens set a $12.00 price target on Glu Mobile and gave the stock a buy rating in a report on Thursday, June 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $7.71.
GLUU stock opened at $5.11 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.34. Glu Mobile has a 1-year low of $4.11 and a 1-year high of $11.75. The firm has a fifty day moving average price of $5.19 and a two-hundred day moving average price of $8.07. The firm has a market cap of $688.58 million, a price-to-earnings ratio of -63.88, a PEG ratio of 2.97 and a beta of 1.05.
In other news, Director Greg Brandeau sold 4,166 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $7.10, for a total value of $29,578.60. Following the completion of the sale, the director now directly owns 41,664 shares of the company’s stock, valued at approximately $295,814.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Scott Leichtner sold 54,357 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $4.56, for a total transaction of $247,867.92. Following the completion of the transaction, the vice president now owns 252,669 shares of the company’s stock, valued at $1,152,170.64. The disclosure for this sale can be found here. 6.84% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Creative Planning raised its position in Glu Mobile by 14.8% in the second quarter. Creative Planning now owns 11,650 shares of the company’s stock worth $84,000 after acquiring an additional 1,500 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Glu Mobile by 4.1% in the 2nd quarter. Cetera Investment Advisers now owns 77,322 shares of the company’s stock worth $555,000 after purchasing an additional 3,072 shares during the last quarter. Cim LLC raised its holdings in shares of Glu Mobile by 21.4% in the 1st quarter. Cim LLC now owns 21,485 shares of the company’s stock worth $235,000 after purchasing an additional 3,785 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Glu Mobile by 20.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 22,588 shares of the company’s stock worth $171,000 after purchasing an additional 3,846 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Glu Mobile by 2.2% during the second quarter. Swiss National Bank now owns 213,300 shares of the company’s stock valued at $1,531,000 after purchasing an additional 4,500 shares during the last quarter. 65.86% of the stock is currently owned by hedge funds and other institutional investors.
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.
Recommended Story: What does a bar chart display?
Receive News & Ratings for Glu Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile and related companies with MarketBeat.com's FREE daily email newsletter.