Glu Mobile Inc. (NASDAQ:GLUU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $4.25 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 14.56% from the stock’s previous close.

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. “

Other analysts have also issued reports about the stock. Roth Capital set a $4.00 target price on shares of Glu Mobile and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $3.30 price target (up from $2.80) on shares of Glu Mobile in a research note on Monday, July 31st. ValuEngine upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Canaccord Genuity restated a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a research report on Thursday, August 10th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $3.19.

Glu Mobile (GLUU) traded up 0.27% on Thursday, reaching $3.71. 2,465,941 shares of the company traded hands. Glu Mobile has a 1-year low of $1.73 and a 1-year high of $3.83. The stock has a 50 day moving average of $3.55 and a 200-day moving average of $2.80. The stock’s market capitalization is $502.39 million.

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In other Glu Mobile news, COO Eric R. Ludwig sold 100,000 shares of the company’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 value of $375,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Eric R. Ludwig sold 49,000 shares of the company’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 transaction, the chief operating officer now directly owns 68,250 shares in the company, valued at $212,940. The disclosure for this sale can be found here. Insiders have sold a total of 174,000 shares of company stock worth $613,630 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GLUU. Fisher Asset Management grew its stake in Glu Mobile by 13.6% during the 4th quarter. Fisher Asset Management now owns 413,527 shares of the company’s stock worth $1,005,000 after buying an additional 49,457 shares during the last quarter. Shinko Asset Management Co. Ltd. boosted its position in Glu Mobile by 13.7% during the 4th quarter. Shinko Asset Management Co. Ltd. now owns 413,527 shares of the company’s stock worth $1,005,000 after acquiring an additional 49,857 shares during the period. Alambic Investment Management L.P. acquired a new position in Glu Mobile during the 4th quarter worth $1,201,000. Pacad Investment Ltd. boosted its position in Glu Mobile by 86.0% during the 1st quarter. Pacad Investment Ltd. now owns 74,400 shares of the company’s stock worth $210,000 after acquiring an additional 34,400 shares during the period. Finally, Teachers Advisors Inc. boosted its position in Glu Mobile by 0.3% during the 1st quarter. Teachers Advisors Inc. now owns 311,790 shares of the company’s stock worth $879,000 after acquiring an additional 950 shares during the period. Institutional investors and hedge funds own 35.14% of the company’s stock.

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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