Glu Mobile Inc. (GLUU) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. boosted its stake in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 119,504 shares of the company’s stock after buying an additional 4,600 shares during the period. Prudential Financial Inc. owned approximately 0.09% of Glu Mobile worth $299,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in GLUU. Nationwide Fund Advisors raised its holdings in Glu Mobile by 69.2% during the 1st quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock worth $334,000 after buying an additional 60,168 shares during the period. Russell Investments Group Ltd. raised its holdings in Glu Mobile by 163.9% during the 1st quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock worth $303,000 after buying an additional 83,002 shares during the period. Bank of New York Mellon Corp raised its holdings in Glu Mobile by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 491,866 shares of the company’s stock worth $1,116,000 after buying an additional 15,866 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Glu Mobile by 140.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 73,207 shares of the company’s stock worth $166,000 after buying an additional 42,800 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new stake in Glu Mobile during the 1st quarter worth approximately $184,000. Hedge funds and other institutional investors own 35.14% of the company’s stock.
Shares of Glu Mobile Inc. (NASDAQ GLUU) opened at 4.33 on Friday. The stock has a 50 day moving average of $3.65 and a 200-day moving average of $2.88. The firm’s market capitalization is $586.34 million. Glu Mobile Inc. has a 12-month low of $1.73 and a 12-month high of $4.51.
Several brokerages have commented on GLUU. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Thursday, August 31st. Roth Capital set a $4.00 target price on shares of Glu Mobile and gave the stock a “buy” rating in a report on Thursday, August 3rd. Canaccord Genuity restated a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a report on Friday, June 30th. ValuEngine upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $3.30 target price (up from $2.80) on shares of Glu Mobile in a report on Monday, July 31st. Five research 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 company. The stock currently has an average rating of “Buy” and an average target price of $3.19.
In related news, COO Eric R. Ludwig sold 25,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $3.43, for a total value 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 approximately $281,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Eric R. Ludwig sold 100,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $3.75, for a total value of $375,000.00. The disclosure for this sale can be found here. Insiders sold a total of 334,000 shares of company stock valued at $1,200,830 over the last three months. 5.60% of the stock is currently owned by insiders.
Glu Mobile 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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