Glu Mobile Inc. (NASDAQ:GLUU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

A number of other brokerages have also recently weighed in on GLUU. Roth Capital reaffirmed a “buy” rating and set a $4.75 price target (up from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Glu Mobile in a research report on Thursday, September 7th. ValuEngine raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Canaccord Genuity reaffirmed a “hold” rating and set a $3.00 price target on shares of Glu Mobile in a research report on Thursday, August 10th. Finally, BidaskClub raised shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $3.17.

Glu Mobile (NASDAQ:GLUU) traded up 1.67% on Wednesday, hitting $3.65. The stock had a trading volume of 3,871,174 shares. The firm’s market cap is $494.26 million. The company’s 50-day moving average price is $3.33 and its 200 day moving average price is $2.67. Glu Mobile has a one year low of $1.73 and a one year high of $3.83.

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In other Glu Mobile news, COO Eric R. Ludwig sold 49,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 68,250 shares of the company’s stock, valued at approximately $212,940. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Eric R. Ludwig sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $3.43, for a total transaction of $85,750.00. Following the completion of the transaction, the chief operating officer now directly owns 82,000 shares of the company’s stock, valued at $281,260. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of large investors have recently bought and sold shares of GLUU. IHT Wealth Management LLC acquired a new stake in shares of Glu Mobile in the 2nd quarter valued at about $592,000. American International Group Inc. raised its stake in shares of Glu Mobile by 7.1% in the 1st quarter. American International Group Inc. now owns 63,380 shares of the company’s stock valued at $144,000 after purchasing an additional 4,196 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Glu Mobile by 4.0% in the 2nd quarter. Prudential Financial Inc. now owns 119,504 shares of the company’s stock valued at $299,000 after purchasing an additional 4,600 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Glu Mobile by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 375,890 shares of the company’s stock valued at $940,000 after purchasing an additional 5,818 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Glu Mobile by 15.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 54,822 shares of the company’s stock valued at $137,000 after purchasing an additional 7,131 shares in the last quarter. 35.14% of the stock is owned by institutional investors.

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.

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