Glu Mobile (GLUU) is Downgraded by Northland Capital to Market Perform

Glu Mobile (GLUU) was Downgraded by Northland Capital to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Northland Capital advised their investors in a research report released on Aug 3, 2016.

Many Wall Street Analysts have commented on Glu Mobile. Shares were Reiterated by Wedbush on Jul 29, 2016 to “Neutral” and Lowered the Price Target to $ 2.45 from a previous price target of $2.65 .

On the company’s financial health, Glu Mobile reported $-0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.05. The company had revenue of $48.36 million for the quarter, compared to analysts expectations of $47.16 million. The company’s revenue was down -13.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.01 EPS.

Glu Mobile closed down -0.13 points or -5.37% at $2.29 with 77,38,738 shares getting traded on Tusday. Post opening the session at $2.41, the shares hit an intraday low of $2.24 and an intraday high of $2.445 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Jul 18, 2016, Gregory J. Cannon (Vice President, Finance and IR) sold 55,000 shares at $2.50 per share price. According to the SEC, on Jun 3, 2016, Ann Mather (director) sold 25,000 shares at $2.36 per share price. On May 20, 2016, William J Miller (director) sold 20,100 shares at $2.34 per share price, according to the Form-4 filing with the securities and exchange commission.

Glu Mobile Inc. develops publishes and markets a portfolio of games. The Company offers games to a cross section of users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts such as the Apple App Store Google Play Store and Amazon Appstore among others. The Company creates games based on its own brands including Blood & Glory Contract Killer Deer Hunter Diner Dash Eternity Warriors Frontline Commando Gun Bros and Heroes of Destiny. The Company also creates games based on third-party licensed brands including Kim Kardashian: Hollywood Robocop: The Official Game and Hercules: The Official Game as well as its own branded games that incorporate third-party licensed brands properties and other content such as Racing Rivals and Tap Sports: Baseball. It released around 16 free-to-play games. It has around eight global studios that create and develop its games.

Glu Mobile

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