Zacks Investment Research downgraded shares of Glu Mobile Inc. (NASDAQ:GLUU) from a buy rating to a hold rating in a report published on Wednesday morning.

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. “

GLUU has been the subject of several other research reports. Stifel Nicolaus reiterated a buy rating and issued a $3.30 target price (up previously from $2.80) on shares of Glu Mobile in a research note on Monday, July 31st. 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 Friday, July 28th. Canaccord Genuity reiterated a hold rating and issued a $3.00 target price on shares of Glu Mobile in a research note on Friday, June 30th. 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 reiterated an outperform rating and issued a $3.50 target price (up previously from $3.00) on shares of Glu Mobile in a research note on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $3.08.

Shares of Glu Mobile (GLUU) traded up 2.51% during mid-day trading on Wednesday, reaching $3.68. The company’s stock had a trading volume of 3,260,915 shares. The company has a 50 day moving average price of $3.27 and a 200 day moving average price of $2.63. Glu Mobile has a 12 month low of $1.73 and a 12 month high of $3.70. The stock’s market capitalization is $498.32 million.

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In other Glu Mobile 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 transaction of $85,750.00. Following the completion of the transaction, the chief operating officer now owns 82,000 shares in the company, valued at $281,260. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Eric R. Ludwig sold 49,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $3.12, for a total transaction of $152,880.00. Following the transaction, the chief operating officer now owns 68,250 shares of the company’s stock, valued at approximately $212,940. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Glu Mobile by 8.0% during the first quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock worth $10,595,000 after purchasing an additional 344,727 shares during the period. Northern Right Capital Management L.P. lifted its stake in Glu Mobile by 109.9% during the second quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after purchasing an additional 1,444,816 shares during the period. State Street Corp lifted its stake in Glu Mobile by 6.7% during the second quarter. State Street Corp now owns 1,914,877 shares of the company’s stock worth $4,791,000 after purchasing an additional 120,550 shares during the period. Menta Capital LLC bought a new position in Glu Mobile during the first quarter worth about $3,359,000. Finally, Northern Trust Corp lifted its stake in Glu Mobile by 1.8% during the second quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock worth $2,857,000 after purchasing an additional 20,300 shares during the period. Hedge funds and other institutional investors own 35.14% of the company’s stock.

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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