Glu Mobile Inc. (GLUU) Given a $4.00 Price Target by Roth Capital Analysts
Glu Mobile Inc. (NASDAQ:GLUU) has been given a $4.00 price target by research analysts at Roth Capital in a note issued to investors on Thursday. The firm presently has a “buy” rating on the stock. Roth Capital’s price target indicates a potential upside of 30.72% from the company’s previous close.
A number of other analysts have also commented on the stock. BidaskClub raised shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. 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. Zacks Investment Research raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Cowen and Company reaffirmed an “outperform” rating and set a $3.00 target price on shares of Glu Mobile in a report on Thursday, May 4th. Finally, Mizuho lifted their target price on shares of Glu Mobile from $2.40 to $2.80 and gave the stock a “neutral” rating in a report on Thursday, May 4th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $3.03.
Shares of Glu Mobile (NASDAQ GLUU) traded up 3.105% during trading on Thursday, reaching $3.155. The company had a trading volume of 1,887,720 shares. The firm has a 50-day moving average of $2.77 and a 200-day moving average of $2.45. Glu Mobile has a 12-month low of $1.73 and a 12-month high of $3.21. The company’s market cap is $427.23 million.
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In other news, insider Masi Niccolo De sold 339,648 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were 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 owns 537,228 shares of the company’s stock, valued at approximately $1,391,420.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Eric R. Ludwig sold 49,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $3.12, for a total transaction of $152,880.00. Following the completion of the transaction, the chief operating officer now directly owns 68,250 shares of the company’s stock, valued at approximately $212,940. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in GLUU. State Street Corp raised its position in shares of Glu Mobile by 2.4% in the fourth quarter. State Street Corp now owns 1,799,025 shares of the company’s stock valued at $3,493,000 after buying an additional 41,559 shares during the period. Nationwide Fund Advisors raised its position in shares of Glu Mobile by 69.2% in the first quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock worth $334,000 after buying an additional 60,168 shares during the last quarter. Creative Planning raised its position 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 during the last quarter. Russell Investments Group Ltd. raised its position in shares of Glu Mobile by 163.9% in the first quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock worth $303,000 after buying an additional 83,002 shares during the last quarter. Finally, KCG Holdings Inc. raised its position in shares of Glu Mobile by 224.1% in the first quarter. KCG Holdings Inc. now owns 382,508 shares of the company’s stock worth $868,000 after buying an additional 264,471 shares during the last quarter. 29.85% of the stock is owned by institutional investors.
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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