Wedbush Weighs in on Glu Mobile Inc.’s Q3 2017 Earnings (GLUU)
Glu Mobile Inc. (NASDAQ:GLUU) – Equities research analysts at Wedbush lifted their Q3 2017 EPS estimates for shares of Glu Mobile in a research note issued on Wednesday. Wedbush analyst N. Mckay now expects that the company will earn ($0.05) per share for the quarter, up from their previous estimate of ($0.07). Wedbush currently has a “Hold” rating on the stock. Wedbush also issued estimates for Glu Mobile’s Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.18) EPS, Q1 2018 earnings at ($0.02) EPS, Q2 2018 earnings at ($0.02) EPS, Q3 2018 earnings at ($0.02) EPS, Q4 2018 earnings at ($0.01) EPS and FY2018 earnings at ($0.07) EPS.
Several other brokerages also recently issued reports on GLUU. Zacks Investment Research downgraded Glu Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $2.80 price target on shares of Glu Mobile in a report on Monday, July 10th. BidaskClub raised Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Roth Capital set a $4.00 price target on Glu Mobile and gave the company a “buy” rating in a report on Wednesday, May 24th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $3.00 price target on shares of Glu Mobile in a report on Thursday, May 4th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $2.94.
TRADEMARK VIOLATION WARNING: “Wedbush Weighs in on Glu Mobile Inc.’s Q3 2017 Earnings (GLUU)” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/07/wedbush-weighs-in-on-glu-mobile-inc-s-q3-2017-earnings-gluu.html.
Glu Mobile (GLUU) opened at 3.06 on Monday. Glu Mobile has a 1-year low of $1.73 and a 1-year high of $3.18. The company’s 50-day moving average is $2.60 and its 200 day moving average is $2.39. The firm’s market capitalization is $413.30 million.
Several large investors have recently bought and sold shares of the company. Creative Planning increased its stake in Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock worth $113,000 after buying an additional 901 shares in the last quarter. American International Group Inc. increased its stake in Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after buying an additional 4,196 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Glu Mobile by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 491,866 shares of the company’s stock worth $1,116,000 after buying an additional 15,866 shares in the last quarter. Geode Capital Management LLC increased its stake in 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, Goldman Sachs Group Inc. increased its stake in Glu Mobile by 125.4% in the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock worth $108,000 after buying an additional 26,535 shares in the last quarter. 30.06% of the stock is owned by institutional investors.
In other news, insider Masi Niccolo De sold 339,648 shares of Glu Mobile stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $2.59, for a total transaction of $879,688.32. Following the completion of the sale, the insider now owns 537,228 shares of the company’s stock, valued at $1,391,420.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.
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.
Receive News & Ratings for Glu Mobile Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile Inc. and related companies with MarketBeat.com's FREE daily email newsletter.