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 décor, 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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