Zacks Investment Research cut shares of Glu Mobile Inc. (NASDAQ:GLUU) from a buy rating to a hold rating in a research report released 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. “

Several other research firms have also recently issued reports on GLUU. Roth Capital restated a buy rating and set a $4.00 target price on shares of Glu Mobile in a research note on Tuesday. ValuEngine upgraded shares of Glu Mobile from a sell rating to a hold rating in a research note on Friday, August 18th. Canaccord Genuity restated a hold rating and set a $3.00 target price on shares of Glu Mobile in a research note on Thursday, August 10th. BidaskClub upgraded shares of Glu Mobile from a buy rating to a strong-buy rating in a research note on Monday, July 24th. Finally, Cowen and Company restated an outperform rating and set a $3.50 target price (up previously from $3.00) on shares of Glu Mobile in a research note on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $3.06.

Shares of Glu Mobile (NASDAQ GLUU) opened at 3.44 on Tuesday. Glu Mobile has a 12-month low of $1.73 and a 12-month high of $3.70. The stock’s market cap is $465.82 million. The company’s 50-day moving average is $3.15 and its 200-day moving average is $2.58.

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In related news, COO Eric R. Ludwig sold 49,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $3.12, for a total value of $152,880.00. Following the completion of the sale, the chief operating officer now directly owns 68,250 shares of the company’s stock, valued at approximately $212,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Eric R. Ludwig sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $3.43, for a total transaction of $85,750.00. Following the completion of the sale, the chief operating officer now directly owns 82,000 shares of the company’s stock, valued at $281,260. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC purchased a new stake in Glu Mobile in the 2nd quarter worth approximately $592,000. State Street Corp increased its holdings in Glu Mobile by 6.7% in the 2nd quarter. State Street Corp now owns 1,914,877 shares of the company’s stock worth $4,791,000 after acquiring an additional 120,550 shares in the last quarter. ETF Managers Group LLC purchased a new stake in Glu Mobile in the 2nd quarter worth approximately $1,099,000. Lyon Street Capital LLC purchased a new stake in Glu Mobile in the 2nd quarter worth approximately $563,000. Finally, Goldman Sachs Group Inc. increased its holdings in Glu Mobile by 15.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 54,822 shares of the company’s stock worth $137,000 after acquiring an additional 7,131 shares in the last quarter. 35.14% of the stock is owned by institutional investors.

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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