Glu Mobile (GLUU) Receives “Hold” Rating from Wedbush
A number of other research firms also recently commented on GLUU. BidaskClub raised shares of Glu Mobile from a buy rating to a strong-buy rating in a research note on Friday, September 14th. Roth Capital downgraded shares of Glu Mobile from a buy rating to a neutral rating in a research note on Monday, October 8th. Zacks Investment Research raised shares of Glu Mobile from a hold rating to a buy rating and set a $6.75 price objective for the company in a research note on Tuesday, August 7th. Finally, Stifel Nicolaus upped their price objective on shares of Glu Mobile from $6.50 to $7.00 and gave the company a buy rating in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $7.05.
NASDAQ:GLUU traded up $0.05 on Wednesday, reaching $8.15. The stock had a trading volume of 3,548,066 shares, compared to its average volume of 2,320,503. The firm has a market cap of $984.12 million, a price-to-earnings ratio of -15.98, a price-to-earnings-growth ratio of 5.78 and a beta of 1.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Glu Mobile has a 12-month low of $3.02 and a 12-month high of $8.42.
In related news, insider Masi Niccolo De sold 89,310 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $7.01, for a total transaction of $626,063.10. Following the completion of the sale, the insider now owns 766,669 shares of the company’s stock, valued at approximately $5,374,349.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 100,000 shares of the stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the sale, the director now directly owns 103,666 shares of the company’s stock, valued at approximately $654,132.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 331,810 shares of company stock valued at $2,300,163. Corporate insiders own 5.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY increased its position in Glu Mobile by 42.7% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,187 shares of the company’s stock worth $232,000 after purchasing an additional 10,832 shares in the last quarter. BlueMountain Capital Management LLC increased its position in Glu Mobile by 11.4% during the 2nd quarter. BlueMountain Capital Management LLC now owns 148,995 shares of the company’s stock worth $955,000 after purchasing an additional 15,274 shares in the last quarter. Wells Fargo & Company MN increased its position in Glu Mobile by 12.7% during the 1st quarter. Wells Fargo & Company MN now owns 171,138 shares of the company’s stock worth $645,000 after purchasing an additional 19,276 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Glu Mobile during the 2nd quarter worth approximately $124,000. Finally, Fusion Family Wealth LLC increased its position in Glu Mobile by 80.0% during the 3rd quarter. Fusion Family Wealth LLC now owns 45,000 shares of the company’s stock worth $335,000 after purchasing an additional 20,000 shares in the last quarter. 54.15% 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 free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.
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