Glu Mobile (NASDAQ:GLUU) Coverage Initiated at KeyCorp

Stock analysts at KeyCorp assumed coverage on shares of Glu Mobile (NASDAQ:GLUU) in a research note issued to investors on Tuesday, The Fly reports. The firm set an “overweight” rating and a $8.00 price target on the stock. KeyCorp’s price target points to a potential upside of 36.29% from the company’s current price.

Several other analysts also recently issued reports on the stock. ValuEngine raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a report on Friday, October 25th. SunTrust Banks started coverage on shares of Glu Mobile in a report on Monday, January 6th. They issued a “buy” rating and a $7.50 price target on the stock. BidaskClub raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Zacks Investment Research downgraded shares of Glu Mobile from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 8th. Finally, DA Davidson started coverage on shares of Glu Mobile in a research note on Tuesday, September 24th. They set a “buy” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $7.36.

Shares of NASDAQ GLUU opened at $5.87 on Tuesday. Glu Mobile has a 12-month low of $4.11 and a 12-month high of $11.75. The company has a market capitalization of $817.86 million, a PE ratio of -73.38, a price-to-earnings-growth ratio of 2.88 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s 50-day moving average is $5.88 and its two-hundred day moving average is $5.75.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.13). Glu Mobile had a negative net margin of 0.82% and a positive return on equity of 0.22%. The business had revenue of $120.40 million during the quarter, compared to analysts’ expectations of $111.00 million. The firm’s revenue was up 19.6% compared to the same quarter last year. On average, analysts forecast that Glu Mobile will post 0.15 EPS for the current fiscal year.

In other Glu Mobile news, CFO Eric R. Ludwig sold 20,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $5.75, for a total transaction of $115,000.00. Following the transaction, the chief financial officer now owns 77,938 shares of the company’s stock, valued at $448,143.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.84% of the company’s stock.

A number of large investors have recently bought and sold shares of GLUU. Vanguard Group Inc. increased its position in shares of Glu Mobile by 4.2% in the second quarter. Vanguard Group Inc. now owns 9,835,104 shares of the company’s stock worth $70,617,000 after acquiring an additional 391,907 shares in the last quarter. DNB Asset Management AS acquired a new stake in shares of Glu Mobile in the third quarter worth $17,010,000. Nuveen Asset Management LLC acquired a new stake in shares of Glu Mobile in the second quarter worth $14,810,000. Invesco Ltd. increased its position in shares of Glu Mobile by 21.5% in the second quarter. Invesco Ltd. now owns 1,837,514 shares of the company’s stock worth $13,193,000 after acquiring an additional 324,586 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Glu Mobile by 65.9% in the second quarter. AQR Capital Management LLC now owns 1,771,227 shares of the company’s stock worth $12,717,000 after acquiring an additional 703,721 shares in the last quarter. 64.27% of the stock is currently owned by institutional investors.

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 primarily in four genres, including home d├ęcor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.

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