Glu Mobile Inc. (GLUU) Expected to Post Quarterly Sales of $80.67 Million
Analysts forecast that Glu Mobile Inc. (NASDAQ:GLUU) will report $80.67 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Glu Mobile’s earnings. The highest sales estimate is $83.00 million and the lowest is $79.40 million. The business is scheduled to issue its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Glu Mobile will report full year sales of $80.67 million for the current year, with estimates ranging from $309.30 million to $315.00 million. For the next year, analysts expect that the business will post sales of $327.42 million per share, with estimates ranging from $315.00 million to $335.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Glu Mobile.
A number of research firms have recently weighed in on GLUU. Cowen and Company restated an “outperform” rating and issued a $3.00 target price on shares of Glu Mobile in a report on Thursday, May 4th. Wedbush restated a “hold” rating on shares of Glu Mobile in a report on Wednesday, August 2nd. Roth Capital set a $4.00 target price on shares of Glu Mobile and gave the stock a “buy” rating in a report on Wednesday, May 24th. BidaskClub upgraded shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $2.94.
In related news, insider Masi Niccolo De sold 339,648 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $2.59, for a total transaction of $879,688.32. Following the transaction, the insider now directly owns 537,228 shares in the company, valued at approximately $1,391,420.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of GLUU. Vanguard Group Inc. increased its position in shares of Glu Mobile by 8.0% in the first 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. State Street Corp increased its position 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 in the last quarter. Menta Capital LLC bought a new position in shares of Glu Mobile during the first quarter worth approximately $3,359,000. Geode Capital Management LLC increased its position in shares of Glu Mobile by 2.0% in the first quarter. Geode Capital Management LLC now owns 879,018 shares of the company’s stock worth $1,995,000 after buying an additional 17,600 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Glu Mobile by 40.5% in the first quarter. Morgan Stanley now owns 713,836 shares of the company’s stock worth $1,620,000 after buying an additional 205,918 shares in the last quarter. Institutional investors and hedge funds own 30.17% of the company’s stock.
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Shares of Glu Mobile (GLUU) opened at 3.06 on Monday. The stock’s 50 day moving average is $2.60 and its 200-day moving average is $2.39. The stock’s market capitalization is $413.30 million. Glu Mobile has a 12-month low of $1.73 and a 12-month high of $3.18.
About Glu Mobile
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.
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