Zacks Investment Research upgraded shares of Glu Mobile Inc. (NASDAQ:GLUU) from a hold rating to a buy rating in a research report released on Thursday, October 5th. The firm currently has $4.25 price objective on the stock.
According to Zacks, “GLU MOBILE INC., is a leading global publisher of mobile games. 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. Glu is based in San Mateo, Calif. and has offices in London, France, Germany, Spain, Italy, Sweden, Poland, Russia, Hong Kong, China, Brazil, Chile, Canada and San Clemente, Calif. “
Other equities research analysts also recently issued reports about the stock. Roth Capital set a $4.00 target price on shares of Glu Mobile and gave the stock a buy rating in a research report on Thursday, August 17th. Stifel Nicolaus restated a buy rating on shares of Glu Mobile in a research report on Thursday, September 7th. ValuEngine upgraded shares of Glu Mobile from a sell rating to a hold rating in a research report on Friday, August 18th. Cowen and Company restated an outperform rating and issued a $3.50 price target (up previously from $3.00) on shares of Glu Mobile in a research report on Wednesday, August 2nd. Finally, Wedbush restated a hold rating on shares of Glu Mobile in a research report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $3.19.
Glu Mobile (NASDAQ GLUU) opened at 4.56 on Thursday. The firm’s market capitalization is $617.49 million. The company has a 50-day moving average of $3.66 and a 200 day moving average of $2.89. Glu Mobile has a one year low of $1.73 and a one year high of $4.57.
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In related news, COO Eric R. Ludwig sold 100,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $3.75, for a total transaction of $375,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Eric R. Ludwig sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $3.43, for a total transaction of $85,750.00. Following the transaction, the chief operating officer now owns 82,000 shares in the company, valued at approximately $281,260. The disclosure for this sale can be found here. Insiders have sold a total of 334,000 shares of company stock worth $1,200,830 in the last quarter. 5.60% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors lifted its position in shares of Glu Mobile by 69.2% during the 1st quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock valued at $334,000 after acquiring an additional 60,168 shares during the period. Bank of Montreal Can increased its stake in Glu Mobile by 113.6% during the 2nd quarter. Bank of Montreal Can now owns 160,540 shares of the company’s stock valued at $401,000 after purchasing an additional 85,371 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Glu Mobile by 163.9% during the 1st quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock valued at $303,000 after purchasing an additional 83,002 shares in the last quarter. KCG Holdings Inc. increased its stake in Glu Mobile by 224.1% during the 1st quarter. KCG Holdings Inc. now owns 382,508 shares of the company’s stock valued at $868,000 after purchasing an additional 264,471 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in Glu Mobile by 86.0% during the 2nd quarter. GSA Capital Partners LLP now owns 351,800 shares of the company’s stock valued at $880,000 after purchasing an additional 162,700 shares in the last quarter. Institutional investors own 35.14% of the company’s stock.
Glu Mobile Company Profile
Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.
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