Glu Mobile Inc. (GLUU) Releases Earnings Results, Misses Estimates By $0.03 EPS
Glu Mobile Inc. (NASDAQ:GLUU) announced its quarterly earnings data on Wednesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03), Briefing.com reports. Glu Mobile had a negative net margin of 48.07% and a negative return on equity of 47.18%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.67 million. During the same period last year, the business posted ($0.33) earnings per share. The firm’s quarterly revenue was up 57.8% compared to the same quarter last year.
A number of brokerages have recently issued reports on GLUU. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Thursday, August 31st. Roth Capital set a $4.00 price objective on Glu Mobile and gave the company a “buy” rating in a research note on Thursday, August 3rd. ValuEngine raised Glu Mobile from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $3.30 price objective (up from $2.80) on shares of Glu Mobile in a research note on Monday, July 31st. Five equities research 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 a consensus price target of $3.66.
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In other Glu Mobile news, COO Eric R. Ludwig sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $3.43, for a total value of $85,750.00. Following the transaction, the chief operating officer now directly owns 82,000 shares in the company, valued at approximately $281,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Eric R. Ludwig sold 49,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $3.12, for a total transaction of $152,880.00. Following the completion of the transaction, the chief operating officer now owns 68,250 shares in the company, valued at $212,940. The disclosure for this sale can be found here. Insiders have sold a total of 1,100,456 shares of company stock worth $4,657,547 over the last quarter. 5.60% of the stock is currently owned by insiders.
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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