Glu Mobile Inc. (NASDAQ:GLUU) shares rose 9.2% during mid-day trading on Wednesday . The stock traded as high as $5.70 and last traded at $5.58, approximately 6,294,609 shares traded hands during trading. An increase of 131% from the average daily volume of 2,729,707 shares. The stock had previously closed at $5.11.

GLUU has been the topic of several recent analyst reports. Wedbush cut their price objective on shares of Glu Mobile from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Roth Capital upgraded shares of Glu Mobile from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday. BidaskClub upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. Stephens set a $8.00 price target on shares of Glu Mobile and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Piper Jaffray Companies cut their price target on shares of Glu Mobile from $12.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Glu Mobile has an average rating of “Buy” and an average target price of $7.61.

The company’s fifty day moving average is $5.16 and its two-hundred day moving average is $8.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $805.99 million, a price-to-earnings ratio of -69.29, a P/E/G ratio of 3.21 and a beta of 1.04.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Glu Mobile had a net margin of 0.41% and a return on equity of 3.39%. The company had revenue of $101.90 million for the quarter, compared to the consensus estimate of $100.93 million. During the same quarter in the prior year, the company earned ($0.03) EPS. Glu Mobile’s quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Glu Mobile Inc. will post 0.11 EPS for the current fiscal year.

In other Glu Mobile news, VP Scott Leichtner sold 54,357 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $4.56, for a total value of $247,867.92. Following the sale, the vice president now owns 252,669 shares in the company, valued at approximately $1,152,170.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Greg Brandeau sold 4,166 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $7.10, for a total value of $29,578.60. Following the completion of the sale, the director now owns 41,664 shares in the company, valued at approximately $295,814.40. The disclosure for this sale can be found here. Corporate insiders own 6.84% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Aperio Group LLC purchased a new stake in Glu Mobile in the 2nd quarter worth approximately $56,000. Creative Planning purchased a new stake in Glu Mobile in the 1st quarter worth approximately $111,000. Wedbush Securities Inc. purchased a new stake in Glu Mobile in the 2nd quarter worth approximately $75,000. Stansberry Asset Management LLC purchased a new stake in Glu Mobile in the 2nd quarter worth approximately $77,000. Finally, Bank of Montreal Can boosted its position in Glu Mobile by 491.7% in the 2nd quarter. Bank of Montreal Can now owns 11,526 shares of the company’s stock worth $83,000 after purchasing an additional 9,578 shares in the last quarter. Institutional investors and hedge funds own 65.86% of the company’s stock.

About Glu Mobile (NASDAQ:GLUU)

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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