$77.88 Million in Sales Expected for Glu Mobile Inc. (GLUU) This Quarter

Equities analysts forecast that Glu Mobile Inc. (NASDAQ:GLUU) will report $77.88 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Glu Mobile’s earnings, with the lowest sales estimate coming in at $76.60 million and the highest estimate coming in at $80.00 million. Glu Mobile reported sales of $46.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 68.2%. The firm is expected to report its next earnings results on Wednesday, February 14th.

On average, analysts expect that Glu Mobile will report full year sales of $77.88 million for the current year, with estimates ranging from $313.90 million to $317.30 million. For the next financial year, analysts expect that the company will post sales of $335.39 million per share, with estimates ranging from $315.00 million to $351.48 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Glu Mobile.

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

A number of analysts have recently weighed in on GLUU shares. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Friday, September 22nd. Wedbush set a $5.00 target price on shares of Glu Mobile and gave the stock a “hold” rating in a report on Wednesday, October 18th. Canaccord Genuity reiterated a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a report on Monday, October 30th. Stifel Nicolaus reiterated a “buy” rating and set a $4.50 target price (up from $3.30) on shares of Glu Mobile in a report on Tuesday, October 31st. Finally, ValuEngine lowered shares of Glu Mobile from a “hold” rating to a “sell” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $3.97.

Glu Mobile (GLUU) traded up $0.01 during trading on Friday, hitting $3.83. 2,363,900 shares of the stock were exchanged, compared to its average volume of 3,579,383. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $523.47, a price-to-earnings ratio of -6.84 and a beta of 1.72. Glu Mobile has a one year low of $1.85 and a one year high of $4.95.

In other Glu Mobile news, insider Masi Niccolo De sold 131,966 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $3.70, for a total transaction of $488,274.20. Following the completion of the transaction, the insider now owns 512,859 shares of the company’s stock, valued at $1,897,578.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric R. Ludwig sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $3.90, for a total transaction of $128,700.00. Following the transaction, the chief operating officer now directly owns 72,000 shares of the company’s stock, valued at approximately $280,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,966 shares of company stock valued at $636,674. 5.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC bought a new position in shares of Glu Mobile during the second quarter valued at approximately $592,000. Goldman Sachs Group Inc. increased its position in shares of Glu Mobile by 15.0% during the second quarter. Goldman Sachs Group Inc. now owns 54,822 shares of the company’s stock valued at $137,000 after acquiring an additional 7,131 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Glu Mobile by 19.2% during the second quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock valued at $142,000 after acquiring an additional 9,186 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Glu Mobile by 66.3% during the third quarter. Wells Fargo & Company MN now owns 109,665 shares of the company’s stock valued at $412,000 after acquiring an additional 43,735 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Glu Mobile by 4.0% during the second quarter. Prudential Financial Inc. now owns 119,504 shares of the company’s stock valued at $299,000 after acquiring an additional 4,600 shares in the last quarter. 35.54% of the stock is owned by institutional investors and hedge funds.

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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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