Shares of Glu Mobile Inc. (NASDAQ:GLUU) have earned an average rating of “Buy” from the ten brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $9.31.
A number of equities analysts have commented on GLUU shares. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Wednesday, January 2nd. BidaskClub upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating in a report on Saturday, November 10th. Wedbush reiterated a “hold” rating and issued a $7.00 target price on shares of Glu Mobile in a report on Wednesday, November 7th. Finally, Cowen boosted their target price on shares of Glu Mobile to $9.50 and gave the stock an “outperform” rating in a report on Monday, December 10th.
In other Glu Mobile news, Director Benjamin T. Iv Smith sold 179,595 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $7.37, for a total value of $1,323,615.15. Following the completion of the transaction, the director now directly owns 189,595 shares in the company, valued at $1,397,315.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of GLUU. JPMorgan Chase & Co. increased its holdings in shares of Glu Mobile by 14,199.2% during the third quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock valued at $23,774,000 after acquiring an additional 3,168,975 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Glu Mobile by 107.2% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 2,356,151 shares of the company’s stock valued at $19,014,000 after acquiring an additional 1,219,274 shares in the last quarter. Emerald Advisers Inc. PA increased its holdings in shares of Glu Mobile by 5,940.3% during the third quarter. Emerald Advisers Inc. PA now owns 1,229,200 shares of the company’s stock valued at $9,158,000 after acquiring an additional 1,208,850 shares in the last quarter. MARSHALL WACE ASIA Ltd increased its holdings in shares of Glu Mobile by 34.8% during the third quarter. MARSHALL WACE ASIA Ltd now owns 4,555,849 shares of the company’s stock valued at $33,941,000 after acquiring an additional 1,176,427 shares in the last quarter. Finally, Emerald Advisers LLC increased its holdings in shares of Glu Mobile by 88.9% during the fourth quarter. Emerald Advisers LLC now owns 2,322,026 shares of the company’s stock valued at $18,739,000 after acquiring an additional 1,092,826 shares in the last quarter. Hedge funds and other institutional investors own 58.12% of the company’s stock.
GLUU stock opened at $9.36 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.36 billion, a P/E ratio of -117.00, a PEG ratio of 3.51 and a beta of 0.90. Glu Mobile has a 1-year low of $3.58 and a 1-year high of $10.41.
Glu Mobile Company Profile
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.
Further Reading: Initial Public Offering (IPO)
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