Brokerages Expect Glu Mobile Inc. (GLUU) Will Post Quarterly Sales of $77.88 Million

Equities analysts forecast that Glu Mobile Inc. (NASDAQ:GLUU) will post sales of $77.88 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Glu Mobile’s earnings, with the highest sales estimate coming in at $80.00 million and the lowest estimate coming in at $76.60 million. Glu Mobile reported sales of $46.31 million during the same quarter last year, which indicates a positive year over year growth rate of 68.2%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, February 8th.

According to Zacks, 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 year, analysts forecast that the company will post sales of $335.39 million per share, with estimates ranging from $315.00 million to $351.48 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Glu Mobile.

A number of equities analysts have weighed in on the company. ValuEngine cut Glu Mobile from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Stifel Nicolaus restated a “buy” rating and issued a $4.50 price target (up previously from $3.30) on shares of Glu Mobile in a report on Tuesday, October 31st. Zacks Investment Research cut Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Wedbush set a $5.00 price target on Glu Mobile and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, BidaskClub cut Glu Mobile from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $3.97.

Glu Mobile (NASDAQ GLUU) opened at $3.60 on Monday. The firm has a market capitalization of $493.32, a P/E ratio of -6.43 and a beta of 1.61. Glu Mobile has a fifty-two week low of $1.85 and a fifty-two week high of $4.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09.

In other news, COO Eric R. Ludwig sold 33,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 72,000 shares in the company, valued at approximately $280,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in GLUU. Prudential Financial Inc. boosted its stake in shares of 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 buying an additional 4,600 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Glu Mobile by 114.1% during the 2nd quarter. Alliancebernstein L.P. now owns 191,000 shares of the company’s stock valued at $478,000 after buying an additional 101,800 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Glu Mobile during the 2nd quarter valued at approximately $370,000. Northern Trust Corp boosted its stake in shares of Glu Mobile by 1.8% during the 2nd quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock valued at $2,857,000 after buying an additional 20,300 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Glu Mobile by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 812,300 shares of the company’s stock valued at $2,031,000 after buying an additional 17,600 shares during the last quarter. Institutional investors own 35.62% of the company’s stock.

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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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