Glu Mobile (NASDAQ:GLUU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday, February 15th.
According to Zacks, “GLU MOBILE INC., is a leading global publisher of mobile games. Its portfolio of top-rated games includes original titles Super K.O. Boxing!, Stranded and Brain Genius, and titles based on major brands from partners including Atari, Activision, Konami, Harrah’s, Hasbro, Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony. Glu is based in San Mateo, Calif. and has offices in London, France, Germany, Spain, Italy, Sweden, Poland, Russia, Hong Kong, China, Brazil, Chile, Canada and San Clemente, Calif. “
GLUU has been the subject of several other reports. Wedbush set a $5.00 price objective on Glu Mobile and gave the stock a “hold” rating in a research report on Friday, February 9th. ValuEngine cut Glu Mobile from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Stifel Nicolaus reissued a “buy” rating and set a $4.50 target price (up previously from $3.30) on shares of Glu Mobile in a report on Tuesday, October 31st. Canaccord Genuity reissued a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a report on Monday, October 30th. Finally, BidaskClub raised Glu Mobile from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $4.01.
Shares of Glu Mobile (NASDAQ GLUU) traded down $0.04 during midday trading on Thursday, hitting $3.76. The stock had a trading volume of 852,883 shares, compared to its average volume of 2,870,000. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $515.25, a P/E ratio of -5.22, a PEG ratio of 75.40 and a beta of 1.61. Glu Mobile has a fifty-two week low of $1.85 and a fifty-two week high of $4.95.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Glu Mobile by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 375,890 shares of the company’s stock valued at $940,000 after buying an additional 5,818 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Glu Mobile by 15.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 54,822 shares of the company’s stock valued at $137,000 after purchasing an additional 7,131 shares during the period. Voya Investment Management LLC raised its stake in Glu Mobile by 19.2% during the 2nd quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock valued at $142,000 after purchasing an additional 9,186 shares during the period. Ariel Investments LLC raised its stake in Glu Mobile by 0.7% during the 4th quarter. Ariel Investments LLC now owns 1,793,088 shares of the company’s stock valued at $6,527,000 after purchasing an additional 13,300 shares during the period. Finally, California Public Employees Retirement System raised its stake in Glu Mobile by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 812,300 shares of the company’s stock valued at $2,031,000 after purchasing an additional 17,600 shares during the period. 38.09% of the stock is currently owned by institutional investors.
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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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