Glu Mobile (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 Tuesday.

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 research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Stifel Nicolaus restated a “buy” rating and set a $4.50 target price (up previously from $3.30) on shares of Glu Mobile in a research report on Tuesday, October 31st. Roth Capital restated a “buy” rating and set a $4.75 target price (up previously from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. ValuEngine upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Canaccord Genuity restated a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Glu Mobile has a consensus rating of “Hold” and an average target price of $3.97.

Shares of Glu Mobile (NASDAQ GLUU) traded down $0.12 during trading hours on Tuesday, hitting $4.56. 3,776,324 shares of the company’s stock were exchanged, compared to its average volume of 4,550,809. Glu Mobile has a 1 year low of $1.85 and a 1 year high of $4.73. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03.

Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative return on equity of 35.19% and a negative net margin of 29.74%. The business had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.67 million. During the same quarter in the previous year, the company earned ($0.33) EPS. The business’s revenue for the quarter was up 57.8% on a year-over-year basis. equities analysts expect that Glu Mobile will post -0.18 earnings per share for the current fiscal year.

In other news, COO Eric R. Ludwig sold 160,000 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $3.67, for a total transaction of $587,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hany Nada sold 766,456 shares of the company’s stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 1,196,422 shares of company stock valued at $5,055,591. 5.60% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Shinko Asset Management Co. Ltd. lifted its holdings in shares of 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. Fisher Asset Management lifted its stake in Glu Mobile by 13.6% in the 4th quarter. Fisher Asset Management now owns 413,527 shares of the company’s stock valued at $1,005,000 after purchasing an additional 49,457 shares during the last quarter. Alambic Investment Management L.P. bought a new position in Glu Mobile in the 4th quarter valued at approximately $1,201,000. State Street Corp lifted its stake in Glu Mobile by 2.4% in the 4th quarter. State Street Corp now owns 1,799,025 shares of the company’s stock valued at $3,493,000 after purchasing an additional 41,559 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its stake in Glu Mobile by 69.2% in the 1st quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock valued at $334,000 after purchasing an additional 60,168 shares during the last quarter. 35.66% of the stock is owned by institutional investors.

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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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