BidaskClub Downgrades Glu Mobile (GLUU) to Sell

Glu Mobile (NASDAQ:GLUU) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other brokerages also recently commented on GLUU. ValuEngine downgraded Glu Mobile from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Thursday, October 5th. Canaccord Genuity reissued a “hold” rating and issued a $3.00 target price on shares of Glu Mobile in a report on Monday, October 30th. Wedbush set a $5.00 target price on Glu Mobile and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $4.50 target price (up from $3.30) on shares of Glu Mobile in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Glu Mobile currently has a consensus rating of “Hold” and a consensus price target of $3.97.

Shares of Glu Mobile (NASDAQ:GLUU) opened at $3.73 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.03. Glu Mobile has a 52-week low of $1.85 and a 52-week high of $4.95. The company has a market capitalization of $508.40, a P/E ratio of -6.66 and a beta of 1.72.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.09) EPS for the quarter, missing the Zacks’ 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 firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.67 million. During the same quarter in the prior year, the business posted ($0.33) EPS. Glu Mobile’s revenue was up 57.8% compared to the same quarter last year. sell-side analysts expect that Glu Mobile will post -0.18 earnings per share for the current fiscal year.

In related news, COO Eric R. Ludwig sold 33,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $3.90, for a total transaction of $128,700.00. Following the completion of the sale, the chief operating officer now directly owns 72,000 shares of the company’s stock, valued at approximately $280,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Masi Niccolo De sold 131,966 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.70, for a total value of $488,274.20. Following the sale, the insider now directly owns 512,859 shares of the company’s stock, valued at $1,897,578.30. 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 currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC acquired a new stake in Glu Mobile during the 2nd quarter valued at $592,000. Prudential Financial Inc. increased its holdings in Glu Mobile by 4.0% during the 2nd quarter. Prudential Financial Inc. now owns 119,504 shares of the company’s stock valued at $299,000 after purchasing an additional 4,600 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Glu Mobile by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 375,890 shares of the company’s stock valued at $940,000 after purchasing an additional 5,818 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Glu Mobile by 15.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 54,822 shares of the company’s stock valued at $137,000 after purchasing an additional 7,131 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Glu Mobile by 19.2% during the 2nd quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock valued at $142,000 after purchasing an additional 9,186 shares in the last quarter. 35.54% of the stock is 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.

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