Glu Mobile Inc. (NASDAQ:GLUU) shares dropped 0.1% during trading on Thursday . The stock traded as low as $4.31 and last traded at $4.35. Approximately 2,019,143 shares were traded during trading, a decline of 43% from the average daily volume of 3,553,650 shares. The stock had previously closed at $4.34.

GLUU has been the subject of several research analyst reports. Roth Capital restated a “buy” rating and set a $3.75 price objective on shares of Glu Mobile in a research report on Wednesday, June 28th. Canaccord Genuity restated a “hold” rating and set a $3.00 price objective on shares of Glu Mobile in a research report on Friday, June 30th. Zacks Investment Research downgraded shares of Glu Mobile from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Stifel Nicolaus restated a “buy” rating and set a $2.80 price objective on shares of Glu Mobile in a research report on Monday, July 10th. Finally, BidaskClub upgraded shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Five investment 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. Glu Mobile has an average rating of “Buy” and a consensus price target of $3.53.

The company’s market capitalization is $591.76 million. The stock has a 50-day moving average of $3.74 and a 200 day moving average of $2.93.

In related news, Director Hany Nada sold 766,456 shares of Glu Mobile stock in a transaction on Monday, October 16th. The shares were sold at an average price of $4.51, for a total value of $3,456,716.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Eric R. Ludwig sold 25,000 shares of Glu Mobile stock in a transaction 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 transaction, the chief operating officer now owns 82,000 shares in the company, valued at approximately $281,260. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,100,456 shares of company stock worth $4,657,547. Corporate insiders own 5.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. Nationwide Fund Advisors raised its position in Glu Mobile by 69.2% in the 1st quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock worth $334,000 after purchasing an additional 60,168 shares during the period. Bank of Montreal Can raised its position in Glu Mobile by 113.6% in the 2nd quarter. Bank of Montreal Can now owns 160,540 shares of the company’s stock worth $401,000 after purchasing an additional 85,371 shares during the period. Russell Investments Group Ltd. raised its position in Glu Mobile by 163.9% in the 1st quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock worth $303,000 after purchasing an additional 83,002 shares during the period. KCG Holdings Inc. raised its position in Glu Mobile by 224.1% in the 1st quarter. KCG Holdings Inc. now owns 382,508 shares of the company’s stock worth $868,000 after purchasing an additional 264,471 shares during the period. Finally, GSA Capital Partners LLP raised its position in Glu Mobile by 86.0% in the 2nd quarter. GSA Capital Partners LLP now owns 351,800 shares of the company’s stock worth $880,000 after purchasing an additional 162,700 shares during the period. Institutional investors own 35.14% of the company’s stock.

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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.

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