Glu Mobile Inc. (NASDAQ:GLUU) Director Hany Nada sold 766,456 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $4.51, for a total transaction of $3,456,716.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Glu Mobile Inc. (NASDAQ:GLUU) traded down 5.81% during midday trading on Thursday, reaching $3.73. The company’s stock had a trading volume of 7,668,058 shares. Glu Mobile Inc. has a 1-year low of $1.73 and a 1-year high of $4.73. The firm has a 50 day moving average price of $3.83 and a 200 day moving average price of $3.00. The firm’s market capitalization is $505.09 million.
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Institutional investors and hedge funds have recently modified their holdings of the company. IHT Wealth Management LLC acquired a new position in shares of Glu Mobile during the second quarter valued at $592,000. Goldman Sachs Group Inc. lifted its stake in shares of Glu Mobile by 125.4% during the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock valued at $108,000 after acquiring an additional 26,535 shares during the period. Emerald Advisers Inc. PA acquired a new position in shares of Glu Mobile during the second quarter valued at $141,000. Voya Investment Management LLC lifted its stake in shares of Glu Mobile by 19.2% during the second quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock valued at $142,000 after acquiring an additional 9,186 shares during the period. Finally, American International Group Inc. lifted its stake in shares of Glu Mobile by 7.1% during the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock valued at $144,000 after acquiring an additional 4,196 shares during the period. 35.09% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on GLUU. Wedbush reiterated a “hold” rating on shares of Glu Mobile in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Thursday, August 24th. Roth Capital set a $4.00 target price on Glu Mobile and gave the company a “buy” rating in a research note on Thursday, August 17th. Stifel Nicolaus reiterated a “buy” rating and set a $2.80 target price on shares of Glu Mobile in a research note on Monday, July 10th. Finally, BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $3.53.
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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