Glu Mobile Inc. (NASDAQ:GLUU) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 8,739,923 shares, an increase of 103.7% from the October 15th total of 4,289,982 shares. Approximately 7.9% of the shares of the company are sold short. Based on an average daily volume of 4,153,836 shares, the short-interest ratio is presently 2.1 days.
Shares of GLUU stock opened at $8.07 on Friday. Glu Mobile has a 1-year low of $3.02 and a 1-year high of $8.42. The firm has a market cap of $984.12 million, a P/E ratio of -15.82, a price-to-earnings-growth ratio of 5.78 and a beta of 1.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. Glu Mobile had a negative return on equity of 19.63% and a negative net margin of 14.65%. The firm had revenue of $99.30 million for the quarter, compared to analyst estimates of $96.14 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Glu Mobile’s quarterly revenue was up 22.4% on a year-over-year basis. Equities analysts predict that Glu Mobile will post 0.08 EPS for the current fiscal year.
In other news, insider Masi Niccolo De sold 89,310 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $7.01, for a total value of $626,063.10. Following the transaction, the insider now owns 766,669 shares of the company’s stock, valued at $5,374,349.69. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Chris Akhavan sold 39,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $8.09, for a total value of $322,815.27. The disclosure for this sale can be found here. In the last three months, insiders sold 371,713 shares of company stock worth $2,622,978. Corporate insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC purchased a new stake in Glu Mobile during the second quarter worth $124,000. Emerald Advisers Inc. PA purchased a new stake in Glu Mobile during the second quarter worth $130,000. ClariVest Asset Management LLC purchased a new stake in Glu Mobile during the second quarter worth $152,000. Fusion Family Wealth LLC purchased a new stake in Glu Mobile during the second quarter worth $160,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Glu Mobile during the second quarter worth $190,000. Institutional investors own 54.15% of the company’s stock.
A number of brokerages recently weighed in on GLUU. BidaskClub raised Glu Mobile from a “hold” rating to a “buy” rating in a report on Saturday. Wedbush set a $7.00 price objective on Glu Mobile and gave the stock a “hold” rating in a report on Wednesday, August 1st. Stifel Nicolaus upped their price objective on Glu Mobile from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a report on Tuesday, August 7th. Finally, Roth Capital lowered Glu Mobile from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.05.
About Glu Mobile
Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.
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