Glu Mobile Inc. (GLUU) Receives Consensus Recommendation of “Buy” from Brokerages
Glu Mobile Inc. (NASDAQ:GLUU) has received a consensus rating of “Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $3.56.
Several equities analysts have commented on the stock. Wedbush set a $5.00 price objective on shares of Glu Mobile and gave the company a “hold” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Thursday, October 5th. Roth Capital reiterated a “buy” rating and set a $4.75 price objective (up previously from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Glu Mobile in a research report on Thursday, September 7th.
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In other news, COO Eric R. Ludwig sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hany Nada sold 766,456 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $4.51, for a total transaction of $3,456,716.56. The disclosure for this sale can be found here. Insiders sold a total of 1,100,456 shares of company stock valued at $4,657,547 in the last 90 days. Company insiders own 5.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in GLUU. Goldman Sachs Group Inc. lifted its holdings in shares of Glu Mobile by 125.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock worth $108,000 after acquiring an additional 26,535 shares during the last quarter. Emerald Advisers Inc. PA bought a new stake in shares of Glu Mobile in the 2nd quarter worth about $141,000. Voya Investment Management LLC lifted its holdings in shares of Glu Mobile by 19.2% in the 2nd quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock worth $142,000 after acquiring an additional 9,186 shares during the last quarter. American International Group Inc. lifted its holdings 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 worth $144,000 after acquiring an additional 4,196 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its holdings in shares of Glu Mobile by 43.3% in the 2nd quarter. Capital Advisors Inc. OK now owns 65,900 shares of the company’s stock worth $165,000 after acquiring an additional 19,900 shares during the last quarter. Hedge funds and other institutional investors own 35.09% of the company’s stock.
Glu Mobile (GLUU) opened at 3.73 on Friday. The firm has a 50-day moving average of $3.83 and a 200 day moving average of $3.00. The stock’s market capitalization is $505.09 million. Glu Mobile has a 52 week low of $1.73 and a 52 week high of $4.73.
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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