Glu Mobile Inc. (GLUU) COO Sells $375,000.00 in Stock
Glu Mobile Inc. (NASDAQ:GLUU) COO Eric R. Ludwig sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $3.75, for a total transaction of $375,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Glu Mobile Inc. (NASDAQ:GLUU) traded down 1.86% on Wednesday, hitting $3.70. 2,776,750 shares of the stock were exchanged. The company’s market cap is $501.03 million. Glu Mobile Inc. has a one year low of $1.73 and a one year high of $3.83. The company’s 50 day moving average price is $3.53 and its 200-day moving average price is $2.80.
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A number of hedge funds have recently made changes to their positions in GLUU. Goldman Sachs Group Inc. grew its holdings in Glu Mobile by 125.4% during the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock valued at $108,000 after purchasing an additional 26,535 shares during the last quarter. Emerald Advisers Inc. PA acquired a new position in Glu Mobile during the second quarter valued at approximately $141,000. Voya Investment Management LLC grew its holdings in Glu Mobile by 19.2% during the second quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock valued at $142,000 after purchasing an additional 9,186 shares during the last quarter. American International Group Inc. grew its holdings in Glu Mobile by 7.1% during the first 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 during the last quarter. Finally, Capital Advisors Inc. OK grew its holdings in Glu Mobile by 43.3% during the second quarter. Capital Advisors Inc. OK now owns 65,900 shares of the company’s stock valued at $165,000 after purchasing an additional 19,900 shares during the last quarter. Institutional investors own 35.14% of the company’s stock.
Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Wednesday. Roth Capital reiterated a “buy” rating and set a $4.75 price objective (up from $4.00) on shares of Glu Mobile in a research note on Monday, September 18th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Glu Mobile in a research note on Thursday, September 7th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $3.17.
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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