JPMorgan Chase & Co. increased its position in Glu Mobile Inc. (NASDAQ:GLUU) by 14,199.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,191,293 shares of the company’s stock after acquiring an additional 3,168,975 shares during the quarter. JPMorgan Chase & Co. owned about 2.25% of Glu Mobile worth $23,774,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GLUU. Emerald Advisers Inc. PA boosted its stake in Glu Mobile by 5,940.3% in the 3rd quarter. Emerald Advisers Inc. PA now owns 1,229,200 shares of the company’s stock worth $9,158,000 after purchasing an additional 1,208,850 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in Glu Mobile in the 3rd quarter worth approximately $8,470,000. BlackRock Inc. boosted its stake in Glu Mobile by 6.4% in the 2nd quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock worth $49,374,000 after purchasing an additional 460,693 shares during the period. Allianz Asset Management GmbH boosted its stake in Glu Mobile by 89.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 897,078 shares of the company’s stock worth $6,683,000 after purchasing an additional 423,756 shares during the period. Finally, Columbus Circle Investors boosted its stake in Glu Mobile by 27.2% in the 3rd quarter. Columbus Circle Investors now owns 1,253,830 shares of the company’s stock worth $9,341,000 after purchasing an additional 267,844 shares during the period. 56.98% of the stock is owned by institutional investors.

NASDAQ GLUU opened at $9.49 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.27 billion, a PE ratio of -118.63, a PEG ratio of 3.96 and a beta of 0.90. Glu Mobile Inc. has a one year low of $3.02 and a one year high of $10.41.

Glu Mobile (NASDAQ:GLUU) last posted its earnings results on Tuesday, November 6th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $99.30 million during the quarter, compared to the consensus estimate of $96.14 million. Glu Mobile had a negative return on equity of 5.62% and a negative net margin of 3.60%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS. On average, sell-side analysts expect that Glu Mobile Inc. will post 0.15 EPS for the current year.

GLUU has been the subject of several recent analyst reports. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Wednesday, January 2nd. BidaskClub upgraded Glu Mobile from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Wedbush restated a “hold” rating and issued a $7.00 price target on shares of Glu Mobile in a research note on Wednesday, November 7th. Finally, Cowen increased their target price on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research report on Monday, December 10th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Glu Mobile currently has an average rating of “Buy” and an average target price of $9.31.

In other news, Director Benjamin T. Iv Smith sold 179,595 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $7.37, for a total transaction of $1,323,615.15. Following the completion of the transaction, the director now directly owns 189,595 shares in the company, valued at approximately $1,397,315.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

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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 d├ęcor, 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.

Featured Article: Asset Allocation

Institutional Ownership by Quarter for Glu Mobile (NASDAQ:GLUU)

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