Glu Mobile Inc. (GLUU) Short Interest Update

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Glu Mobile Inc. (NASDAQ:GLUU) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,867,434 shares, a drop of 37.2% from the January 15th total of 7,754,533 shares. Based on an average daily trading volume, of 1,965,112 shares, the short-interest ratio is currently 2.5 days. Currently, 4.3% of the company’s stock are short sold.

GLUU opened at $9.36 on Thursday. Glu Mobile has a 1 year low of $3.58 and a 1 year high of $10.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -117.00, a P/E/G ratio of 3.51 and a beta of 0.90.

In other news, Director Benjamin T. Iv Smith sold 179,595 shares of the firm’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $7.37, for a total transaction of $1,323,615.15. Following the transaction, the director now owns 189,595 shares in the company, valued at $1,397,315.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of GLUU. BlackRock Inc. grew its stake in Glu Mobile by 6.4% in the second quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock valued at $49,374,000 after purchasing an additional 460,693 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Glu Mobile by 34.0% in 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 purchasing an additional 165,118 shares during the last quarter. Northern Trust Corp grew its stake in Glu Mobile by 14.3% in the second quarter. Northern Trust Corp now owns 1,321,499 shares of the company’s stock valued at $8,471,000 after purchasing an additional 165,276 shares during the last quarter. Handelsinvest Investeringsforvaltning boosted its holdings in Glu Mobile by 100.0% in the third quarter. Handelsinvest Investeringsforvaltning now owns 400,000 shares of the company’s stock worth $2,980,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Columbus Circle Investors boosted its holdings in Glu Mobile by 27.2% in the third quarter. Columbus Circle Investors now owns 1,253,830 shares of the company’s stock worth $9,341,000 after acquiring an additional 267,844 shares in the last quarter. Institutional investors own 58.12% of the company’s stock.

Several brokerages have recently commented on GLUU. BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 1st. Wedbush set a $10.20 target price on Glu Mobile and gave the company a “neutral” rating in a research note on Tuesday, February 5th. Piper Jaffray Companies lifted their target price on Glu Mobile to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, February 5th. Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Finally, Cowen lifted their target price on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research note on Monday, December 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.31.

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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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