Glu Mobile Inc. (GLUU) Lifted to “Hold” at ValuEngine
Glu Mobile Inc. (NASDAQ:GLUU) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday.
Several other equities research analysts also recently issued reports on GLUU. Canaccord Genuity restated a “hold” rating and set a $3.00 price objective on shares of Glu Mobile in a report on Thursday, August 10th. Roth Capital set a $4.00 price objective on Glu Mobile and gave the stock a “buy” rating in a report on Thursday. Wedbush restated a “hold” rating on shares of Glu Mobile in a report on Wednesday, August 2nd. Cowen and Company restated an “outperform” rating and set a $3.50 price objective (up from $3.00) on shares of Glu Mobile in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $3.30 price objective (up from $2.80) on shares of Glu Mobile in a report on Monday, July 31st. Five research 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. The stock has a consensus rating of “Buy” and an average target price of $3.03.
Shares of Glu Mobile (NASDAQ GLUU) traded up 4.58% during trading on Friday, reaching $3.20. The company had a trading volume of 3,041,750 shares. The firm has a 50-day moving average price of $2.79 and a 200-day moving average price of $2.46. The company’s market capitalization is $433.32 million. Glu Mobile has a 52-week low of $1.73 and a 52-week high of $3.23.
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In other news, insider Masi Niccolo De sold 339,648 shares of the business’s 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 sale, the insider now directly owns 537,228 shares in the company, 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 hyperlink. Also, COO Eric R. Ludwig sold 49,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $3.12, for a total value of $152,880.00. Following the completion of the sale, the chief operating officer now owns 68,250 shares of the company’s stock, valued at $212,940. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. 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 during the period. IHT Wealth Management LLC purchased a new stake in shares of Glu Mobile during the second quarter worth $592,000. 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 during the period. Prudential Financial Inc. increased its stake in shares of Glu Mobile by 4.0% in the second quarter. Prudential Financial Inc. now owns 119,504 shares of the company’s stock worth $299,000 after buying an additional 4,600 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Glu Mobile by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 375,890 shares of the company’s stock worth $940,000 after buying an additional 5,818 shares during the period. Institutional investors and hedge funds own 29.85% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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