Stifel Nicolaus reissued their buy rating on shares of Glu Mobile Inc. (NASDAQ:GLUU) in a report issued on Monday, July 31st. They currently have a $3.30 price objective on the stock, up from their previous price objective of $2.80.
A number of other research firms have also weighed in on GLUU. Zacks Investment Research lowered Glu Mobile from a hold rating to a sell rating in a research note on Tuesday, July 4th. BidaskClub upgraded Glu Mobile from a buy rating to a strong-buy rating in a research note on Monday, July 24th. Roth Capital set a $4.00 target price on Glu Mobile and gave the stock a buy rating in a research note on Wednesday, May 24th. Cowen and Company reissued an outperform rating and set a $3.00 price target on shares of Glu Mobile in a research report on Thursday, May 4th. Finally, Mizuho increased their price target on Glu Mobile from $2.40 to $2.80 and gave the stock a neutral rating in a research report on Thursday, May 4th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $3.03.
Glu Mobile (NASDAQ:GLUU) traded up 1.99% during mid-day trading on Monday, reaching $3.08. 3,330,989 shares of the company traded hands. The company’s 50 day moving average price is $2.72 and its 200 day moving average price is $2.43. Glu Mobile has a 12-month low of $1.73 and a 12-month high of $3.21. The firm’s market capitalization is $417.08 million.
In related news, insider Masi Niccolo De sold 339,648 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $2.59, for a total transaction of $879,688.32. Following the sale, the insider now owns 537,228 shares of the company’s stock, valued at $1,391,420.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of GLUU. Menta Capital LLC bought a new stake in shares of Glu Mobile during the first quarter worth $3,359,000. Quantitative Investment Management LLC bought a new stake in shares of Glu Mobile during the second quarter worth $1,721,000. Engineers Gate Manager LP increased its stake in shares of Glu Mobile by 214.6% in the second quarter. Engineers Gate Manager LP now owns 583,115 shares of the company’s stock worth $1,458,000 after buying an additional 397,771 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Glu Mobile during the first quarter worth $877,000. Finally, Vanguard Group Inc. increased its stake in shares of 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. 30.17% of the stock is currently owned by institutional investors.
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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