Glu Mobile Inc. (NASDAQ:GLUU) fell 5.8% on Tuesday . The company traded as low as $3.41 and last traded at $3.43. 4,724,258 shares traded hands during trading, an increase of 35% from the average session volume of 3,489,920 shares. The stock had previously closed at $3.64.

A number of brokerages have recently weighed in on GLUU. Zacks Investment Research raised shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Thursday, August 31st. Roth Capital set a $4.00 price target on shares of Glu Mobile and gave the company a “buy” rating in a report on Thursday, August 24th. ValuEngine raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Canaccord Genuity reaffirmed a “hold” rating and issued a $3.00 price target on shares of Glu Mobile in a report on Thursday, August 10th. Finally, BidaskClub raised shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. 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 stock. Glu Mobile has an average rating of “Buy” and an average target price of $3.08.

The firm has a 50-day moving average price of $3.06 and a 200 day moving average price of $2.55. The stock’s market capitalization is $464.47 million.

In other news, insider Masi Niccolo De sold 339,648 shares of Glu Mobile 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 owns 537,228 shares of the company’s stock, valued at $1,391,420.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Eric R. Ludwig sold 25,000 shares of Glu Mobile stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $3.43, for a total transaction of $85,750.00. Following the completion of the sale, the chief operating officer now directly owns 82,000 shares in the company, valued at approximately $281,260. The disclosure for this sale can be found here. In the last ninety days, insiders sold 413,648 shares of company stock worth $1,118,318. Insiders own 5.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in GLUU. Creative Planning boosted its holdings in Glu Mobile by 1.8% during the first quarter. Creative Planning now owns 49,901 shares of the company’s stock worth $113,000 after buying an additional 901 shares in the last quarter. Bank of Montreal Can purchased a new stake in Glu Mobile during the first quarter worth about $171,000. Nationwide Fund Advisors boosted its holdings in Glu Mobile by 69.2% during the first quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock worth $334,000 after buying an additional 60,168 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Glu Mobile by 163.9% during the first quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock worth $303,000 after buying an additional 83,002 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Glu Mobile by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 491,866 shares of the company’s stock worth $1,116,000 after buying an additional 15,866 shares in the last quarter. 35.14% of the stock is currently owned by hedge funds and other institutional investors.

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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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