Glu Mobile Inc. (GLUU) Short Interest Down 37.2% in January

Glu Mobile Inc. (NASDAQ:GLUU) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,867,434 shares, a drop of 37.2% from the January 15th total of 7,754,533 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average daily volume of 1,965,112 shares, the days-to-cover ratio is currently 2.5 days.

In related news, Director Benjamin T. Iv Smith sold 179,595 shares of the stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $7.37, for a total value of $1,323,615.15. Following the completion of the transaction, the director now owns 189,595 shares in the company, valued at approximately $1,397,315.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in GLUU. BlackRock Inc. boosted its position in Glu Mobile by 6.4% during the 2nd quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock worth $49,374,000 after acquiring an additional 460,693 shares during the period. Bank of New York Mellon Corp boosted its position in Glu Mobile by 34.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 650,254 shares of the company’s stock worth $4,168,000 after acquiring an additional 165,118 shares during the period. Northern Trust Corp lifted its holdings in shares of Glu Mobile by 14.3% during the 2nd quarter. Northern Trust Corp now owns 1,321,499 shares of the company’s stock valued at $8,471,000 after buying an additional 165,276 shares during the last quarter. Handelsinvest Investeringsforvaltning lifted its holdings in shares of Glu Mobile by 100.0% during the 3rd quarter. Handelsinvest Investeringsforvaltning now owns 400,000 shares of the company’s stock valued at $2,980,000 after buying an additional 200,000 shares during the last quarter. Finally, Columbus Circle Investors lifted its holdings in shares of Glu Mobile by 27.2% during the 3rd quarter. Columbus Circle Investors now owns 1,253,830 shares of the company’s stock valued at $9,341,000 after buying an additional 267,844 shares during the last quarter. Hedge funds and other institutional investors own 58.12% of the company’s stock.

Shares of NASDAQ GLUU opened at $9.30 on Tuesday. Glu Mobile has a one year low of $3.20 and a one year high of $10.41. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -116.25, a price-to-earnings-growth ratio of 3.51 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.26 and a quick ratio of 1.26.

A number of equities analysts recently weighed in on GLUU shares. Wedbush reiterated a “hold” rating and issued a $9.00 price target on shares of Glu Mobile in a research report on Wednesday, January 30th. Stephens started coverage on Glu Mobile in a research report on Thursday, January 10th. They issued an “overweight” rating and a $10.50 price target for the company. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Tuesday, November 13th. BidaskClub upgraded Glu Mobile from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. Finally, Cowen raised their price objective on Glu Mobile to $9.50 and gave the stock an “outperform” rating in a research report on Monday, December 10th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $9.31.

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Glu Mobile Company Profile

Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home d├ęcor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.

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