Brokerages forecast that Glu Mobile Inc. (NASDAQ:GLUU) will report ($0.03) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Glu Mobile’s earnings. The lowest EPS estimate is ($0.04) and the highest is ($0.02). The firm is expected to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Glu Mobile will report full-year earnings of ($0.09) per share for the current financial year, with EPS estimates ranging from ($0.10) to ($0.07). For the next fiscal year, analysts anticipate that the company will post earnings of $0.07 per share, with EPS estimates ranging from $0.05 to $0.10. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Glu Mobile.
GLUU has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a report on Monday, August 7th. Roth Capital set a $4.00 price target on shares of Glu Mobile and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $2.80 price target on shares of Glu Mobile in a report on Monday, July 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $3.06.
Glu Mobile (NASDAQ:GLUU) opened at 3.44 on Monday. The company’s market cap is $465.82 million. Glu Mobile has a 52-week low of $1.73 and a 52-week high of $3.70. The firm’s 50 day moving average is $3.15 and its 200 day moving average is $2.58.
In related news, COO Eric R. Ludwig sold 49,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $3.12, for a total transaction of $152,880.00. Following the transaction, the chief operating officer now owns 68,250 shares in the company, valued at $212,940. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Eric R. Ludwig sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $3.43, for a total transaction of $85,750.00. Following the transaction, the chief operating officer now owns 82,000 shares in the company, valued at approximately $281,260. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of GLUU. Goldman Sachs Group Inc. lifted its position in Glu Mobile by 125.4% during the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock valued at $108,000 after purchasing an additional 26,535 shares during the period. Emerald Advisers Inc. PA bought a new position in Glu Mobile during the second quarter valued at approximately $141,000. Voya Investment Management LLC lifted its position in 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 purchasing an additional 9,186 shares during the period. American International Group Inc. lifted its position in Glu Mobile by 7.1% during the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock valued at $144,000 after purchasing an additional 4,196 shares during the period. Finally, Princeton Portfolio Strategies Group LLC bought a new position in Glu Mobile during the first quarter valued at approximately $153,000. Institutional investors own 35.14% of the company’s stock.
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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