Creative Planning cut its stake in Glu Mobile Inc. (NASDAQ:GLUU) by 9.8% during the second quarter, Holdings Channel reports. The institutional investor owned 45,000 shares of the company’s stock after selling 4,901 shares during the period. Creative Planning’s holdings in Glu Mobile were worth $113,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GLUU. Bank of Montreal Can boosted its stake in shares of Glu Mobile by 113.6% in the second quarter. Bank of Montreal Can now owns 160,540 shares of the company’s stock valued at $401,000 after buying an additional 85,371 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Glu Mobile by 125.4% in the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock valued at $108,000 after buying an additional 26,535 shares in the last quarter. KCG Holdings Inc. boosted its stake in shares of Glu Mobile by 224.1% in the first quarter. KCG Holdings Inc. now owns 382,508 shares of the company’s stock valued at $868,000 after buying an additional 264,471 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Glu Mobile during the first quarter valued at $877,000. Finally, Morgan Stanley boosted its stake in shares of Glu Mobile by 40.5% in the first quarter. Morgan Stanley now owns 713,836 shares of the company’s stock valued at $1,620,000 after buying an additional 205,918 shares in the last quarter. 29.85% of the stock is currently owned by institutional investors.

Shares of Glu Mobile Inc. (NASDAQ GLUU) traded up 0.97% during mid-day trading on Wednesday, reaching $3.12. 860,408 shares of the company’s stock were exchanged. Glu Mobile Inc. has a one year low of $1.73 and a one year high of $3.21. The company has a 50 day moving average price of $2.74 and a 200-day moving average price of $2.44. The stock’s market cap is $422.49 million.

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Several brokerages recently weighed in on GLUU. Canaccord Genuity reissued a “hold” rating and issued a $3.00 price objective on shares of Glu Mobile in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Monday, August 7th. Roth Capital set a $4.00 price target on shares of Glu Mobile and gave the company a “buy” rating in a research report on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $3.50 price target (up previously from $3.00) on shares of Glu Mobile in a research report on Wednesday, August 2nd. Finally, Wedbush reaffirmed a “hold” rating on shares of Glu Mobile in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $3.03.

In other Glu Mobile news, insider Masi Niccolo De sold 339,648 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $2.59, for a total value of $879,688.32. Following the transaction, the insider now owns 537,228 shares in the company, valued at $1,391,420.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is currently owned by insiders.

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

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