Glu Mobile (NASDAQ:GLUU) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Several other brokerages have also recently commented on GLUU. Wedbush set a $5.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $4.50 price target (up previously from $3.30) on shares of Glu Mobile in a research report on Tuesday, October 31st. Canaccord Genuity reaffirmed a “hold” rating and set a $3.00 price target on shares of Glu Mobile in a research report on Monday, October 30th. Roth Capital reaffirmed a “buy” rating and set a $4.75 price target (up previously from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. Finally, Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $3.97.

Glu Mobile (NASDAQ GLUU) traded up $0.10 during trading hours on Friday, reaching $4.01. 4,440,000 shares of the company’s stock were exchanged, compared to its average volume of 3,988,477. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09. Glu Mobile has a one year low of $1.85 and a one year high of $4.73.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative return on equity of 35.19% and a negative net margin of 29.74%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.67 million. During the same period in the previous year, the business posted ($0.33) EPS. The business’s revenue for the quarter was up 57.8% on a year-over-year basis. sell-side analysts expect that Glu Mobile will post -0.18 earnings per share for the current fiscal year.

In other Glu Mobile news, COO Eric R. Ludwig sold 160,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $3.67, for a total value of $587,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Eric R. Ludwig sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $3.75, for a total transaction of $375,000.00. The disclosure for this sale can be found here. Insiders have sold 1,196,422 shares of company stock worth $5,055,591 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 344,727 shares during the last quarter. Northern Right Capital Management L.P. lifted its holdings in Glu Mobile by 109.9% in the second quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after acquiring an additional 1,444,816 shares during the last quarter. State Street Corp lifted its holdings in Glu Mobile by 6.7% in the second quarter. State Street Corp now owns 1,914,877 shares of the company’s stock worth $4,791,000 after acquiring an additional 120,550 shares during the last quarter. Northern Trust Corp lifted its holdings in Glu Mobile by 1.8% in the second quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock worth $2,857,000 after acquiring an additional 20,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Glu Mobile by 192.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,098,454 shares of the company’s stock worth $4,130,000 after acquiring an additional 722,564 shares during the last quarter. 35.81% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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