Glu Mobile Inc. (GLUU) Given a $5.00 Price Target by Wedbush Analysts
GLUU has been the subject of a number of other research reports. Zacks Investment Research upgraded Glu Mobile from a hold rating to a buy rating and set a $4.00 price objective for the company in a research report on Thursday, August 31st. Roth Capital set a $4.00 price objective on Glu Mobile and gave the company a buy rating in a research report on Thursday, August 3rd. Canaccord Genuity restated a hold rating and set a $3.00 price objective on shares of Glu Mobile in a research report on Friday, June 30th. ValuEngine upgraded Glu Mobile from a sell rating to a hold rating in a research report on Friday, August 18th. Finally, Stifel Nicolaus restated a buy rating and set a $3.30 price objective (up previously from $2.80) on shares of Glu Mobile in a research report on Monday, July 31st. Five equities research 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 stock currently has an average rating of Buy and an average target price of $3.53.
Glu Mobile (GLUU) traded up 1.37% during mid-day trading on Wednesday, reaching $4.43. The company’s stock had a trading volume of 3,951,174 shares. Glu Mobile has a 52 week low of $1.73 and a 52 week high of $4.73. The stock’s market capitalization is $599.88 million. The firm has a 50-day moving average of $3.79 and a 200-day moving average of $2.95.
In other Glu Mobile news, COO Eric R. Ludwig sold 49,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $3.12, for a total transaction of $152,880.00. Following the completion of the transaction, the chief operating officer now owns 68,250 shares in the company, valued at approximately $212,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hany Nada sold 766,456 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $4.51, for a total value of $3,456,716.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,100,456 shares of company stock valued at $4,657,547 in the last quarter. 5.60% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC acquired a new position in Glu Mobile during the 2nd quarter worth $592,000. Goldman Sachs Group Inc. boosted its position in Glu Mobile by 125.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock worth $108,000 after acquiring an additional 26,535 shares during the period. Emerald Advisers Inc. PA acquired a new position in Glu Mobile during the 2nd quarter worth $141,000. Voya Investment Management LLC boosted its position in Glu Mobile by 19.2% during the 2nd quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock worth $142,000 after acquiring an additional 9,186 shares during the period. Finally, American International Group Inc. boosted its position in Glu Mobile by 7.1% during the 1st quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after acquiring an additional 4,196 shares during the period. 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.
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