Glu Mobile (NASDAQ:GLUU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

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 a number of other research reports. Wedbush reduced their price target on Glu Mobile from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Benchmark reduced their price target on Glu Mobile from $14.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Piper Jaffray Companies reduced their price target on Glu Mobile from $12.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. ValuEngine cut Glu Mobile from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Stephens set a $12.00 price target on Glu Mobile and gave the stock a “buy” rating in a report on Thursday, June 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $8.38.

Shares of GLUU stock traded down $0.11 on Tuesday, hitting $4.65. The company had a trading volume of 2,580,427 shares, compared to its average volume of 2,705,868. The stock has a market capitalization of $729.17 million, a price-to-earnings ratio of -58.13, a P/E/G ratio of 3.16 and a beta of 0.84. Glu Mobile has a twelve month low of $4.30 and a twelve month high of $11.75. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $6.74.

Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $101.90 million during the quarter, compared to analysts’ expectations of $100.93 million. Glu Mobile had a return on equity of 3.43% and a net margin of 0.41%. Glu Mobile’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) EPS. As a group, sell-side analysts predict that Glu Mobile will post 0.11 earnings per share for the current fiscal year.

In other Glu Mobile news, Director Greg Brandeau sold 4,166 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $7.10, for a total transaction of $29,578.60. Following the completion of the transaction, the director now owns 41,664 shares of the company’s stock, valued at $295,814.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Holdings Ltd Tencent sold 7,259,728 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $7.75, for a total value of $56,262,892.00. The disclosure for this sale can be found here. Insiders sold a total of 7,268,064 shares of company stock valued at $56,322,745 in the last ninety days. 6.84% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Glu Mobile during the first quarter valued at approximately $49,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Glu Mobile during the first quarter valued at approximately $66,000. Aperio Group LLC acquired a new position in shares of Glu Mobile during the second quarter valued at approximately $56,000. Creative Planning acquired a new position in shares of Glu Mobile during the first quarter valued at approximately $111,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Glu Mobile during the second quarter valued at approximately $75,000. 59.02% of the stock is owned by institutional investors and hedge funds.

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 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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