Glu Mobile Inc. Forecasted to Post Q2 2020 Earnings of ($0.01) Per Share (NASDAQ:GLUU)

Glu Mobile Inc. (NASDAQ:GLUU) – SunTrust Banks issued their Q2 2020 earnings estimates for shares of Glu Mobile in a research note issued on Monday, February 10th. SunTrust Banks analyst M. Thornton expects that the company will post earnings of ($0.01) per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $7.50 target price on the stock. SunTrust Banks also issued estimates for Glu Mobile’s Q3 2020 earnings at $0.07 EPS.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The business had revenue of $108.40 million for the quarter, compared to analysts’ expectations of $103.64 million. Glu Mobile had a net margin of 2.16% and a return on equity of 5.63%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share.

A number of other brokerages have also recently commented on GLUU. Stephens cut shares of Glu Mobile from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 8th. Zacks Investment Research cut shares of Glu Mobile from a “hold” rating to a “strong sell” rating in a research report on Wednesday. BidaskClub raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research report on Thursday, January 16th. ValuEngine raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Morgan Stanley reissued a “buy” rating and set a $8.00 price objective on shares of Glu Mobile in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Glu Mobile currently has an average rating of “Buy” and a consensus price target of $7.58.

Shares of GLUU opened at $7.22 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.00 billion, a P/E ratio of 120.35, a price-to-earnings-growth ratio of 4.13 and a beta of 1.11. The firm’s fifty day simple moving average is $6.31 and its two-hundred day simple moving average is $5.63. Glu Mobile has a 12 month low of $4.11 and a 12 month high of $11.75.

A number of hedge funds and other institutional investors have recently made changes to their positions in GLUU. Chevy Chase Trust Holdings Inc. bought a new position in Glu Mobile in the 4th quarter valued at about $28,000. Penserra Capital Management LLC bought a new position in Glu Mobile in the 3rd quarter valued at about $43,000. Shelton Capital Management bought a new position in Glu Mobile in the 4th quarter valued at about $62,000. Tower Research Capital LLC TRC bought a new position in Glu Mobile in the 3rd quarter valued at about $69,000. Finally, LS Investment Advisors LLC bought a new position in Glu Mobile in the 4th quarter valued at about $84,000. 64.03% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Eric R. Ludwig sold 516,666 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $7.36, for a total transaction of $3,802,661.76. Following the transaction, the chief financial officer now owns 193,666 shares of the company’s stock, valued at approximately $1,425,381.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Chris Akhavan sold 379,932 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $6.86, for a total transaction of $2,606,333.52. Following the transaction, the senior vice president now directly owns 120,530 shares in the company, valued at approximately $826,835.80. The disclosure for this sale can be found here. Insiders have sold a total of 969,098 shares of company stock worth $6,878,846 in the last three months. Insiders own 6.84% of the company’s stock.

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 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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Earnings History and Estimates for Glu Mobile (NASDAQ:GLUU)

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