Glu Mobile (NASDAQ:GLUU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “GLU MOBILE INC., is a leading global publisher of mobile games. Its portfolio of top-rated games includes original titles Super K.O. Boxing!, Stranded and Brain Genius, and titles based on major brands from partners including Atari, Activision, Konami, Harrah’s, Hasbro, Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony. Glu is based in San Mateo, Calif. and has offices in London, France, Germany, Spain, Italy, Sweden, Poland, Russia, Hong Kong, China, Brazil, Chile, Canada and San Clemente, Calif. “

A number of other equities analysts have also recently commented on the company. Wedbush dropped their target price on Glu Mobile from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Benchmark dropped their target price on Glu Mobile from $14.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 2nd. BidaskClub upgraded Glu Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. ValuEngine lowered Glu Mobile from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Piper Jaffray Companies decreased their price target on Glu Mobile from $12.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.38.

NASDAQ GLUU traded down $0.11 during trading on Tuesday, hitting $4.65. 2,580,427 shares of the stock traded hands, compared to its average volume of 2,705,868. The firm has a market capitalization of $729.17 million, a P/E ratio of -58.13, a P/E/G ratio of 3.16 and a beta of 0.84. The company has a 50-day moving average of $6.74. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.16. Glu Mobile has a 12-month low of $4.30 and a 12-month high of $11.75.

Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $101.90 million during the quarter, compared to analysts’ expectations of $100.93 million. Glu Mobile had a return on equity of 3.43% and a net margin of 0.41%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. Equities analysts forecast that Glu Mobile will post 0.11 EPS for the current fiscal year.

In other news, Director Holdings Ltd Tencent sold 7,259,728 shares of Glu Mobile stock in a transaction on Friday, May 31st. The stock was sold at an average price of $7.75, for a total value of $56,262,892.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Greg Brandeau sold 4,166 shares of Glu Mobile stock in a transaction on Monday, July 8th. The shares were sold at an average price of $7.10, for a total value of $29,578.60. Following the completion of the transaction, the director now owns 41,664 shares in the company, valued at $295,814.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,268,064 shares of company stock valued at $56,322,745. 6.84% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Glu Mobile in the 1st quarter valued at $49,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Glu Mobile during the 1st quarter worth $66,000. Aperio Group LLC purchased a new position in Glu Mobile during the 2nd quarter worth $56,000. Creative Planning purchased a new position in Glu Mobile during the 1st quarter worth $111,000. Finally, Wedbush Securities Inc. purchased a new position in Glu Mobile during the 2nd quarter worth $75,000. Institutional investors and hedge funds own 59.02% 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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