Insider Selling: Glu Mobile Inc. (GLUU) COO Sells 160,000 Shares of Stock
Glu Mobile Inc. (NASDAQ:GLUU) COO Eric R. Ludwig sold 160,000 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $3.67, for a total value of $587,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Glu Mobile Inc. (NASDAQ GLUU) traded up 5.85% during mid-day trading on Wednesday, reaching $3.80. The company had a trading volume of 5,363,065 shares. The firm’s 50-day moving average price is $3.59 and its 200 day moving average price is $2.85. Glu Mobile Inc. has a 52-week low of $1.73 and a 52-week high of $3.85. The company’s market cap is $514.57 million.
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GLUU has been the subject of a number of analyst reports. Wedbush reissued a “hold” rating on shares of Glu Mobile in a report on Wednesday, August 2nd. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Thursday, August 24th. Roth Capital set a $4.00 price objective on Glu Mobile and gave the company a “buy” rating in a report on Thursday, August 17th. Stifel Nicolaus reissued a “buy” rating and set a $2.80 price objective on shares of Glu Mobile in a report on Monday, July 10th. Finally, BidaskClub raised Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $3.19.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Glu Mobile by 8.0% in the first quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock valued at $10,595,000 after purchasing an additional 344,727 shares during the last quarter. Northern Right Capital Management L.P. increased its stake in shares of Glu Mobile by 109.9% in the second quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock valued at $6,899,000 after buying an additional 1,444,816 shares during the period. State Street Corp increased its stake in shares of Glu Mobile by 6.7% in the second quarter. State Street Corp now owns 1,914,877 shares of the company’s stock valued at $4,791,000 after buying an additional 120,550 shares during the period. Northern Trust Corp increased its stake in shares of Glu Mobile by 1.8% in the second quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock valued at $2,857,000 after buying an additional 20,300 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Glu Mobile by 2.0% in the first quarter. Geode Capital Management LLC now owns 879,018 shares of the company’s stock valued at $1,995,000 after buying an additional 17,600 shares during the period. Hedge funds and other 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.
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