ValuEngine upgraded shares of Glu Mobile Inc. (NASDAQ:GLUU) from a sell rating to a hold rating in a report released on Friday.

A number of other research analysts have also recently issued reports on GLUU. Canaccord Genuity reiterated a hold rating and issued a $3.00 target price on shares of Glu Mobile in a research note on Thursday, August 10th. Roth Capital set a $4.00 target price on shares of Glu Mobile and gave the company a buy rating in a research note on Thursday. Wedbush restated a hold rating on shares of Glu Mobile in a research report on Wednesday, August 2nd. Cowen and Company restated an outperform rating and issued a $3.50 price objective (up previously from $3.00) on shares of Glu Mobile in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a buy rating and issued a $3.30 price objective (up previously from $2.80) on shares of Glu Mobile in a research report on Monday, July 31st. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $3.03.

Glu Mobile (NASDAQ GLUU) opened at 3.20 on Friday. Glu Mobile has a 1-year low of $1.73 and a 1-year high of $3.23. The firm’s market capitalization is $433.32 million. The company has a 50-day moving average price of $2.79 and a 200 day moving average price of $2.46.

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In other Glu Mobile news, insider Masi Niccolo De sold 339,648 shares of Glu Mobile stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $2.59, for a total transaction of $879,688.32. Following the completion of the sale, the insider now owns 537,228 shares of the company’s stock, valued at approximately $1,391,420.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Eric R. Ludwig sold 49,000 shares of Glu Mobile stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $3.12, for a total transaction of $152,880.00. Following the sale, the chief operating officer now directly owns 68,250 shares of the company’s stock, valued at approximately $212,940. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Glu Mobile by 125.4% in the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock worth $108,000 after buying an additional 26,535 shares in the last quarter. Creative Planning raised its stake in Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock worth $113,000 after buying an additional 901 shares in the last quarter. Emerald Advisers Inc. PA acquired a new stake in Glu Mobile during the second quarter worth approximately $141,000. Voya Investment Management LLC raised its stake in Glu Mobile by 19.2% in the second quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock worth $142,000 after buying an additional 9,186 shares in the last quarter. Finally, American International Group Inc. raised its stake in Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after buying an additional 4,196 shares in the last quarter. 29.85% of the stock is owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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