Glu Mobile (GLUU) Expected to Post Quarterly Sales of $90.92 Million

Analysts expect that Glu Mobile (NASDAQ:GLUU) will announce $90.92 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Glu Mobile’s earnings, with estimates ranging from $90.00 million to $91.65 million. Glu Mobile posted sales of $82.54 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Glu Mobile will report full year sales of $363.96 million for the current fiscal year, with estimates ranging from $358.10 million to $367.87 million. For the next financial year, analysts forecast that the company will post sales of $400.87 million per share, with estimates ranging from $383.00 million to $426.21 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Tuesday, May 1st. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. The business had revenue of $81.44 million for the quarter, compared to analysts’ expectations of $73.20 million. Glu Mobile had a negative net margin of 26.33% and a negative return on equity of 34.72%. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) earnings per share.

GLUU has been the topic of a number of research analyst reports. BidaskClub raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a research report on Tuesday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $4.75 price target on shares of Glu Mobile in a research report on Friday, February 9th. Zacks Investment Research cut shares of Glu Mobile from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 8th. ValuEngine cut shares of Glu Mobile from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Finally, Wedbush set a $5.00 price target on shares of Glu Mobile and gave the company a “hold” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $4.64.

In other news, insider Masi Niccolo De sold 134,785 shares of the stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $4.81, for a total transaction of $648,315.85. Following the transaction, the insider now owns 524,755 shares of the company’s stock, valued at approximately $2,524,071.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gordon S. Lee sold 7,074 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $3.90, for a total transaction of $27,588.60. The disclosure for this sale can be found here. Insiders have sold a total of 601,004 shares of company stock worth $3,034,061 in the last three months. Insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB acquired a new stake in shares of Glu Mobile in the 1st quarter worth about $4,779,000. Nokomis Capital L.L.C. acquired a new stake in shares of Glu Mobile in the 1st quarter worth about $7,390,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Glu Mobile in the 1st quarter worth about $210,000. ETF Managers Group LLC raised its holdings in shares of Glu Mobile by 65.4% in the 1st quarter. ETF Managers Group LLC now owns 590,230 shares of the company’s stock worth $2,166,000 after acquiring an additional 233,342 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in shares of Glu Mobile by 67.2% in the 1st quarter. MetLife Investment Advisors LLC now owns 50,565 shares of the company’s stock worth $191,000 after acquiring an additional 20,329 shares during the last quarter. Institutional investors own 44.99% of the company’s stock.

GLUU traded up $0.01 during trading on Friday, reaching $5.55. 776,894 shares of the stock traded hands, compared to its average volume of 2,182,179. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $768.13 million, a P/E ratio of -10.88, a price-to-earnings-growth ratio of 6.88 and a beta of 1.35. Glu Mobile has a 12 month low of $2.42 and a 12 month high of $5.80.

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.

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

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