Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Glu Mobile (GLUU) Share Price
News coverage about Glu Mobile (NASDAQ:GLUU) has been trending somewhat positive on Thursday, according to Accern. The research firm rates the sentiment of media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Glu Mobile earned a coverage optimism score of 0.17 on Accern’s scale. Accern also assigned media headlines about the company an impact score of 45.5576050801764 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment’s rankings:
- Why Glu Mobile Inc. Stock Popped Today (fool.com)
- Insider Activity – Glu Mobile Inc. (NASDAQ:GLUU) – First News 24 (firstnewspaper24.com)
- Glu Releases First Look at Interactive Social App, The Swift Life™ – Business Wire (press release) (businesswire.com)
- Insider Selling: Glu Mobile Inc. (GLUU) COO Sells 160,000 Shares of Stock (americanbankingnews.com)
- Shaw + Scott Expands Leadership Team Focusing on Executional Excellence (itbusinessnet.com)
Shares of Glu Mobile (NASDAQ GLUU) traded up 9.74% on Thursday, hitting $4.17. The stock had a trading volume of 9,589,275 shares. Glu Mobile has a one year low of $1.73 and a one year high of $4.32. The firm’s 50-day moving average is $3.60 and its 200-day moving average is $2.85. The company’s market cap is $564.68 million.
GLUU has been the subject of a number of analyst reports. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Thursday, August 31st. BidaskClub raised Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Roth Capital reaffirmed a “buy” rating and set a $4.00 target price on shares of Glu Mobile in a research note on Tuesday, September 5th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a research note on Friday, June 30th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $3.19.
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In related news, COO Eric R. Ludwig sold 25,000 shares of Glu Mobile stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $3.43, for a total transaction of $85,750.00. Following the completion of the transaction, the chief operating officer now directly owns 82,000 shares of the company’s stock, valued at $281,260. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Eric R. Ludwig sold 160,000 shares of Glu Mobile stock in a transaction on Monday, October 9th. The stock was sold at an average price of $3.67, for a total value of $587,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 334,000 shares of company stock worth $1,200,830. Company insiders own 5.60% 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.
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