Insider Selling: Glu Mobile CFO Sells 62,000 Shares of Stock (GLUU)
Glu Mobile (NASDAQ:GLUU) CFO Eric Ludwig sold 62,000 shares of the company’s stock on the open market in a transaction dated Friday, October 25th. The stock was sold at an average price of $3.52, for a total transaction of $218,240.00. Following the sale, the chief financial officer now directly owns 67,638 shares of the company’s stock, valued at approximately $238,086. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Glu Mobile (NASDAQ:GLUU) traded up 2.09% during mid-day trading on Tuesday, hitting $3.91. The stock had a trading volume of 11,202,075 shares. Glu Mobile has a 52 week low of $1.99 and a 52 week high of $5.40. The stock has a 50-day moving average of $2.45 and a 200-day moving average of $2.62. The company’s market cap is $275.8 million.
Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.07) by $0.02. The company had revenue of $23.20 million for the quarter, compared to the consensus estimate of $17.14 million. Glu Mobile’s revenue was down 22.1% compared to the same quarter last year. Analysts expect that Glu Mobile will post $-0.22 EPS for the current fiscal year.
GLUU has been the subject of a number of recent research reports. Analysts at Cowen and Company initiated coverage on shares of Glu Mobile in a research note to investors on Tuesday, October 22nd. They set an “outperform” rating and a $5.00 price target on the stock. Separately, analysts at Benchmark Co. raised their price target on shares of Glu Mobile from $2.42 to $3.07 in a research note to investors on Tuesday, October 22nd. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Glu Mobile from $3.00 to $4.00 in a research note to investors on Wednesday, October 16th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $4.08.
Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.