Glu Mobile Inc. (NASDAQ:GLUU) Receives Average Rating of “Buy” from Analysts
Glu Mobile Inc. (NASDAQ:GLUU) has been given a consensus recommendation of “Buy” by the ten analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $3.16.
Several research firms have issued reports on GLUU. Canaccord Genuity restated a “hold” rating and issued a $3.00 price objective on shares of Glu Mobile in a research note on Thursday. Roth Capital set a $4.00 price objective on Glu Mobile and gave the company a “buy” rating in a research note on Thursday, August 3rd. Wedbush restated a “hold” rating on shares of Glu Mobile in a research note on Wednesday, August 2nd. Cowen and Company restated an “outperform” rating and issued a $3.50 price objective (up previously from $3.00) on shares of Glu Mobile in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $3.30 price objective (up previously from $2.80) on shares of Glu Mobile in a research note on Monday, July 31st.
Glu Mobile (GLUU) traded up 1.99% during mid-day trading on Friday, reaching $3.08. The company’s stock had a trading volume of 3,330,989 shares. The company has a 50 day moving average of $2.72 and a 200-day moving average of $2.43. The stock’s market cap is $417.08 million. Glu Mobile has a 52-week low of $1.73 and a 52-week high of $3.21.
In other 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 transaction of $879,688.32. Following the transaction, the insider now owns 537,228 shares in the company, valued at $1,391,420.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Glu Mobile by 125.4% in the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock worth $108,000 after buying an additional 26,535 shares during the period. Creative Planning increased its stake in shares of Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock worth $113,000 after buying an additional 901 shares in the last quarter. Emerald Advisers Inc. PA bought a new stake in shares of Glu Mobile during the second quarter worth about $141,000. American International Group Inc. increased its stake in shares of Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after buying an additional 4,196 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its stake in shares of Glu Mobile by 43.3% in the second quarter. Capital Advisors Inc. OK now owns 65,900 shares of the company’s stock worth $165,000 after buying an additional 19,900 shares in the last quarter. Institutional investors own 30.17% of the company’s stock.
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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