Glu Mobile Inc. (NASDAQ:GLUU)‘s stock had its “hold” rating reiterated by analysts at Canaccord Genuity in a research note issued on Thursday. They presently have a $3.00 price objective on the stock. Canaccord Genuity’s price objective points to a potential downside of 3.23% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research note on Monday. Roth Capital set a $4.00 price target on Glu Mobile and gave the stock a “buy” rating in a report on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and set a $3.50 price target (up previously from $3.00) on shares of Glu Mobile in a report on Wednesday, August 2nd. Wedbush reiterated a “hold” rating on shares of Glu Mobile in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $3.30 price target (up previously from $2.80) on shares of Glu Mobile in a report on Monday, July 31st. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $3.03.

Glu Mobile (GLUU) opened at 3.10 on Thursday. Glu Mobile has a one year low of $1.73 and a one year high of $3.21. The stock’s market capitalization is $418.70 million. The firm has a 50-day moving average of $2.69 and a 200 day moving average of $2.42.

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In related news, insider Masi Niccolo De sold 339,648 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $2.59, for a total value of $879,688.32. Following the sale, the insider now directly owns 537,228 shares in the company, valued at approximately $1,391,420.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of Glu Mobile by 125.4% in the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock valued at $108,000 after buying an additional 26,535 shares during the period. Creative Planning raised its stake in shares of Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock valued at $113,000 after buying an additional 901 shares during the period. Emerald Advisers Inc. PA bought a new stake in shares of Glu Mobile during the second quarter valued at about $141,000. American International Group Inc. raised its stake in shares of Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock valued at $144,000 after buying an additional 4,196 shares during the period. Finally, Capital Advisors Inc. OK raised its stake in shares of Glu Mobile by 43.3% in the second quarter. Capital Advisors Inc. OK now owns 65,900 shares of the company’s stock valued at $165,000 after buying an additional 19,900 shares during the period. Hedge funds and other institutional investors own 30.17% of the company’s stock.

Glu Mobile Company Profile

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.

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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