Glu Mobile Inc. (NASDAQ:GLUU) Director Holdings Ltd Tencent sold 7,259,728 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $7.75, for a total value of $56,262,892.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NASDAQ GLUU traded down $0.05 during mid-day trading on Tuesday, hitting $7.84. 3,844,164 shares of the company traded hands, compared to its average volume of 2,500,240. Glu Mobile Inc. has a 1 year low of $5.08 and a 1 year high of $11.75. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -98.00, a P/E/G ratio of 2.83 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.16.

Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Monday, May 6th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $92.60 million during the quarter, compared to the consensus estimate of $89.74 million. Glu Mobile had a negative return on equity of 0.92% and a negative net margin of 1.40%. Glu Mobile’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. As a group, sell-side analysts expect that Glu Mobile Inc. will post 0.19 EPS for the current fiscal year.

Several brokerages recently weighed in on GLUU. BidaskClub cut Glu Mobile from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Zacks Investment Research cut Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Piper Jaffray Companies raised their target price on Glu Mobile from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Wedbush reaffirmed a “hold” rating and set a $9.00 target price on shares of Glu Mobile in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Glu Mobile currently has a consensus rating of “Buy” and a consensus target price of $9.67.

Several hedge funds and other institutional investors have recently modified their holdings of GLUU. Handelsbanken Fonder AB grew its holdings in Glu Mobile by 26.9% in the 4th quarter. Handelsbanken Fonder AB now owns 1,650,000 shares of the company’s stock valued at $13,316,000 after buying an additional 350,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Glu Mobile by 79.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,752 shares of the company’s stock worth $71,000 after acquiring an additional 3,870 shares during the period. Rhumbline Advisers lifted its position in shares of Glu Mobile by 48.5% in the 4th quarter. Rhumbline Advisers now owns 147,652 shares of the company’s stock worth $1,192,000 after acquiring an additional 48,227 shares during the period. Cipher Capital LP lifted its position in shares of Glu Mobile by 219.5% in the 4th quarter. Cipher Capital LP now owns 49,721 shares of the company’s stock worth $402,000 after acquiring an additional 34,157 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of Glu Mobile by 50.9% in the 4th quarter. Two Sigma Advisers LP now owns 322,802 shares of the company’s stock worth $2,605,000 after acquiring an additional 108,900 shares during the period. 57.68% of the stock is currently owned by institutional investors and hedge funds.

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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 primarily in four genres, including home d├ęcor, 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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