Glu Mobile Inc. (NASDAQ:GLUU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $3.50 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 13.27% from the stock’s previous close.

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. “

GLUU has been the subject of several other reports. Roth Capital set a $4.00 target price on Glu Mobile and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity reaffirmed a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a report on Friday, June 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $3.30 target price (up from $2.80) on shares of Glu Mobile in a report on Monday, July 31st. Cowen and Company reaffirmed an “outperform” rating and set a $3.50 target price (up from $3.00) on shares of Glu Mobile in a report on Wednesday, August 2nd. Finally, Mizuho upped their target price on Glu Mobile from $2.40 to $2.80 and gave the company a “neutral” rating in a report on Thursday, May 4th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $3.03.

Glu Mobile (GLUU) traded up 0.98% during mid-day trading on Monday, reaching $3.09. The company’s stock had a trading volume of 5,228,588 shares. Glu Mobile has a 52 week low of $1.73 and a 52 week high of $3.16. The stock’s market capitalization is $417.35 million. The firm has a 50-day moving average of $2.60 and a 200-day moving average of $2.39.

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In related news, insider Masi Niccolo De sold 339,648 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $2.59, for a total value of $879,688.32. Following the completion of the transaction, the insider now directly owns 537,228 shares of the company’s stock, valued at approximately $1,391,420.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Raging Capital Management LLC raised its position in shares of Glu Mobile by 8.6% in the fourth quarter. Raging Capital Management LLC now owns 6,037,648 shares of the company’s stock worth $11,713,000 after buying an additional 479,099 shares during the period. Vanguard Group Inc. raised its position in shares of Glu Mobile by 8.0% in the first quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock worth $10,595,000 after buying an additional 344,727 shares during the period. Harvest Capital Strategies LLC raised its position in shares of Glu Mobile by 81.3% in the first quarter. Harvest Capital Strategies LLC now owns 4,350,000 shares of the company’s stock worth $12,267,000 after buying an additional 1,950,000 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Glu Mobile by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,861,094 shares of the company’s stock worth $8,068,000 after buying an additional 35,731 shares during the period. Finally, State Street Corp raised its position in shares of Glu Mobile by 2.8% in the first quarter. State Street Corp now owns 1,848,420 shares of the company’s stock worth $5,211,000 after buying an additional 49,974 shares during the period. 30.17% of the stock is owned by institutional investors and hedge funds.

About Glu Mobile

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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