Glu Mobile Inc. (NASDAQ:GLUU)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research note issued to investors on Thursday.

Other equities analysts have also issued reports about the company. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a report on Monday, August 7th. Roth Capital set a $4.00 price target on Glu Mobile and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Wedbush reaffirmed a “hold” rating on shares of Glu Mobile in a report on Wednesday, August 2nd. Five research 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 stock. Glu Mobile currently has a consensus rating of “Buy” and an average target price of $3.06.

Shares of Glu Mobile (NASDAQ:GLUU) traded up 2.34% during trading on Thursday, reaching $3.50. The company’s stock had a trading volume of 1,503,070 shares. The stock has a 50-day moving average of $3.13 and a 200-day moving average of $2.57. Glu Mobile has a 52-week low of $1.73 and a 52-week high of $3.70. The stock’s market cap is $473.95 million.

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In related news, COO Eric R. Ludwig sold 49,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $3.12, for a total value of $152,880.00. Following the sale, the chief operating officer now owns 68,250 shares in the company, valued at $212,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Eric R. Ludwig sold 25,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $3.43, for a total value of $85,750.00. Following the completion of the sale, 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. Company insiders own 5.60% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. 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 in the last quarter. Bank of Montreal Can raised its position in shares of Glu Mobile by 113.6% in the second quarter. Bank of Montreal Can now owns 160,540 shares of the company’s stock worth $401,000 after buying an additional 85,371 shares in 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 in 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 in 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 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.

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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