Glu Mobile meets 3Q profit forecasts

This press release contains certain “forward-looking statements” related to the businesses of Glu Mobile Inc. and Tencent Holdings Limited, which can be identified by the use of forward-looking terminology such as “believes”, “expects”, “plans” or similar expressions, including statements that our collaboration will bring China’s chart-topping and top grossing shooter WeFire to North and South America, EMEA, Australia and New Zealand 2016; that the partnership with Tencent forms part of Glu’s ongoing vision to deliver unmissable entertainment anywhere; and that Tencent looks forward to working with Glu to bring this incredibly popular game to worldwide markets and share this shooter with new gamers. It earned 6 cents a share on sales of $64.4 million. During last six month period, the net percent change held by insiders has seen a change of -21.72%.

Glu Mobile, Inc. has dropped 14.67% during the last 3-month period. This Thursday the company has released their financial results for the third quarter of the current fiscal year and made a few interesting announcements to boost up their business for the future. The higher price target estimate for the stock has been calculated at $10 while the lower price target estimate is at $7.

Glu Mobile Inc. (NASDAQ:GLUU): The stock price is expected to reach $ 8.8 in the short term. Glu Mobile shares have risen 6.09% in the past 200 days, while the S&P500 Index has surged 1.78% in the same time. During the year the lowest point at which share traded is $22.66 and hit the highest point at $30.92. The number of analysts agreeing with this consensus is 5.

The U.S. Department of Justice’s U.S. Trustee Program has entered into a national settlement agreement with Wells Fargo & Company (NYSE:WFC) Bank N.A. requiring Wells Fargo to pay $81.6 million in remediation for its repeated failure to provide homeowners with legally required notices, thereby denying homeowners the opportunity to challenge the accuracy of mortgage payment increases. The beta value for this stock stands at 0.93 points, while its earnings per share(EPS) was $4.14.

Glu Mobile Inc. (NASDAQ:GLUU): On Tuesday heightened volatility was witnessed in Glu Mobile Inc. (NASDAQ:GLUU) which led to swings in the share price. The heightened volatility saw the trading volume jump to 4,619,504 shares. The stock was trading on a volume of 8.20 million shares and the average volume of the stock remained 28.15 million shares. (NASDAQ:GILD) is 44.80% and on Thursday its shares closed at $107.83.

Glu Mobile Inc. (Glu) designs, markets and sells mobile games. The Company has developed and published a portfolio of action/adventure and casual games created to appeal to a cross section of the users of smartphones and tablet devices who purchase its games through direct-to-consumer digital storefronts, as well as users of feature phones served by wireless carriers and other distributors. 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. In August 2014, the Company acquired Cie Games – creators of Racing Rivals and vehicle Town.