Pitcairn Co. decreased its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,243 shares of the company’s stock after selling 1,490 shares during the quarter. Pitcairn Co.’s holdings in Glu Mobile were worth $281,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. BDO Wealth Advisors LLC bought a new position in shares of Glu Mobile during the 1st quarter worth $26,000. Private Capital Group LLC purchased a new stake in Glu Mobile during the 1st quarter worth about $28,000. Nisa Investment Advisors LLC lifted its holdings in Glu Mobile by 546.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 9,110 shares of the company’s stock worth $57,000 after purchasing an additional 7,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Glu Mobile by 42.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,568 shares of the company’s stock worth $60,000 after purchasing an additional 2,846 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Glu Mobile by 11.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 10,377 shares of the company’s stock worth $65,000 after purchasing an additional 1,090 shares in the last quarter. Institutional investors own 72.14% of the company’s stock.
Shares of NASDAQ GLUU opened at $9.44 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.50 and a quick ratio of 1.50. Glu Mobile Inc. has a 1-year low of $3.98 and a 1-year high of $10.85. The stock’s 50-day moving average is $9.41 and its 200 day moving average is $7.86.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The firm had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $96.75 million. Glu Mobile had a negative net margin of 0.02% and a positive return on equity of 0.37%. Glu Mobile’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts expect that Glu Mobile Inc. will post 0.19 earnings per share for the current year.
In related news, SVP Chris Akhavan sold 399,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $10.05, for a total transaction of $4,009,950.00. Following the transaction, the senior vice president now directly owns 399,000 shares in the company, valued at approximately $4,009,950. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Greg Brandeau sold 42,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $9.93, for a total value of $417,060.00. Following the transaction, the director now owns 35,000 shares in the company, valued at $347,550. The disclosure for this sale can be found here. Over the last three months, insiders have sold 567,625 shares of company stock worth $5,621,613. 6.84% of the stock is currently owned by insiders.
A number of analysts recently issued reports on the company. Morgan Stanley increased their price objective on Glu Mobile from $10.50 to $10.75 and gave the stock an “equal weight” rating in a report on Friday, July 24th. BidaskClub cut Glu Mobile from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Zacks Investment Research cut Glu Mobile from a “hold” rating to a “sell” rating in a report on Friday. SunTrust Banks reaffirmed a “buy” rating and issued a $10.00 price target on shares of Glu Mobile in a report on Friday, June 12th. Finally, ValuEngine cut Glu Mobile from a “buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.23.
Glu Mobile Company Profile
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 primarily in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.
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