Glu Mobile Inc. (GLUU) CRO Chris Akhavan Sells 39,903 Shares

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Glu Mobile Inc. (NASDAQ:GLUU) CRO Chris Akhavan sold 39,903 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $8.09, for a total transaction of $322,815.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ:GLUU traded down $0.08 during trading hours on Friday, hitting $8.07. The stock had a trading volume of 2,845,046 shares, compared to its average volume of 3,956,826. Glu Mobile Inc. has a 1-year low of $3.02 and a 1-year high of $8.42. The firm has a market capitalization of $1.15 billion, a P/E ratio of -15.82, a PEG ratio of 6.75 and a beta of 1.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Glu Mobile had a negative net margin of 14.65% and a negative return on equity of 19.63%. The company had revenue of $99.30 million for the quarter, compared to analyst estimates of $96.14 million. During the same quarter last year, the business earned ($0.09) earnings per share. Glu Mobile’s revenue was up 22.4% compared to the same quarter last year. Analysts predict that Glu Mobile Inc. will post 0.09 EPS for the current year.

Large investors have recently made changes to their positions in the business. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Glu Mobile in the second quarter valued at approximately $1,282,000. Bank of New York Mellon Corp increased its stake in shares of Glu Mobile by 34.0% during the second quarter. Bank of New York Mellon Corp now owns 650,254 shares of the company’s stock valued at $4,168,000 after acquiring an additional 165,118 shares during the period. BlackRock Inc. increased its stake in shares of Glu Mobile by 6.4% during the second quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock valued at $49,374,000 after acquiring an additional 460,693 shares during the period. BlueMountain Capital Management LLC increased its stake in shares of Glu Mobile by 11.4% during the second quarter. BlueMountain Capital Management LLC now owns 148,995 shares of the company’s stock valued at $955,000 after acquiring an additional 15,274 shares during the period. Finally, Emerald Advisers Inc. PA acquired a new position in shares of Glu Mobile during the second quarter valued at approximately $130,000. Institutional investors own 54.15% of the company’s stock.

A number of brokerages have issued reports on GLUU. BidaskClub raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a report on Saturday. Wedbush restated a “hold” rating and issued a $7.00 price target on shares of Glu Mobile in a research note on Wednesday. Roth Capital lowered shares of Glu Mobile from a “buy” rating to a “neutral” rating in a research note on Monday, October 8th. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Tuesday, August 7th. Finally, Stifel Nicolaus raised their price target on shares of Glu Mobile from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $7.05.

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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 d├ęcor, 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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