Zacks Investment Research Downgrades Glu Mobile Inc. (GLUU) to Hold
Zacks Investment Research lowered shares of Glu Mobile Inc. (NASDAQ:GLUU) from a buy rating to a hold rating in a report published on Tuesday.
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. “
A number of other equities analysts also recently commented on GLUU. Mizuho lifted their price objective on shares of Glu Mobile from $2.40 to $2.80 and gave the stock a neutral rating in a report on Thursday, May 4th. Cowen and Company reaffirmed an outperform rating and issued a $3.00 price objective on shares of Glu Mobile in a report on Thursday, May 4th. Roth Capital set a $4.00 price objective on shares of Glu Mobile and gave the stock a buy rating in a report on Wednesday, May 24th. Canaccord Genuity reaffirmed a hold rating and issued a $3.00 price objective on shares of Glu Mobile in a report on Friday, June 30th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $2.80 price objective on shares of Glu Mobile in a report on Monday, July 10th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $3.08.
Shares of Glu Mobile (GLUU) opened at 3.64 on Tuesday. Glu Mobile has a 52-week low of $1.73 and a 52-week high of $3.70. The company has a 50-day moving average of $3.05 and a 200 day moving average of $2.54. The stock’s market cap is $492.91 million.
WARNING: “Zacks Investment Research Downgrades Glu Mobile Inc. (GLUU) to Hold” was published by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://www.watchlistnews.com/zacks-investment-research-downgrades-glu-mobile-inc-gluu-to-hold/1537224.html.
In other Glu Mobile news, COO Eric R. Ludwig sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $3.43, for a total value of $85,750.00. Following the sale, the chief operating officer now directly owns 82,000 shares in the company, valued at $281,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Eric R. Ludwig sold 49,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $3.12, for a total value of $152,880.00. Following the completion of the sale, the chief operating officer now owns 68,250 shares in the company, valued at $212,940. The disclosure for this sale can be found here. Insiders sold 413,648 shares of company stock worth $1,118,318 over the last quarter. 5.60% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Glu Mobile by 8.0% in the first quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock worth $10,595,000 after buying an additional 344,727 shares during the last quarter. Northern Right Capital Management L.P. boosted its stake in Glu Mobile by 109.9% in the second quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after buying an additional 1,444,816 shares during the last quarter. State Street Corp boosted its stake in Glu Mobile by 6.7% in the second quarter. State Street Corp now owns 1,914,877 shares of the company’s stock worth $4,791,000 after buying an additional 120,550 shares during the last quarter. Menta Capital LLC bought a new stake in Glu Mobile during the first quarter worth about $3,359,000. Finally, Northern Trust Corp boosted its stake in Glu Mobile by 1.8% in the second quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock worth $2,857,000 after buying an additional 20,300 shares during the last quarter. Institutional investors own 35.14% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Glu Mobile Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.