Glu Mobile Inc. (GLUU) Set to Announce Earnings on Wednesday
Glu Mobile Inc. (NASDAQ:GLUU) is scheduled to release its earnings data after the market closes on Wednesday, November 1st. Analysts expect Glu Mobile to post earnings of ($0.03) per share for the quarter.
Glu Mobile Inc. (NASDAQ:GLUU) opened at 4.18 on Wednesday. Glu Mobile Inc. has a 12-month low of $1.73 and a 12-month high of $4.73. The stock’s market cap is $566.03 million. The firm has a 50 day moving average of $3.82 and a 200-day moving average of $2.99.
Several brokerages have recently weighed in on GLUU. Wedbush set a $5.00 price objective on shares of Glu Mobile and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Thursday, October 5th. Roth Capital restated a “buy” rating and set a $4.75 price objective (up previously from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Glu Mobile in a research report on Thursday, September 7th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $3.53.
In related news, Director Hany Nada sold 766,456 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $4.51, for a total value of $3,456,716.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eric R. Ludwig sold 49,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $3.12, for a total transaction of $152,880.00. Following the completion of the sale, the chief operating officer now owns 68,250 shares of the company’s stock, valued at approximately $212,940. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,100,456 shares of company stock valued at $4,657,547. 5.60% of the stock is owned by insiders.
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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