Glu Mobile Inc. (GLUU) Holdings Lowered by Royal Bank of Canada
Royal Bank of Canada lowered its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 228,982 shares of the company’s stock after selling 3,377 shares during the quarter. Royal Bank of Canada owned 0.17% of Glu Mobile worth $573,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its stake in shares of Glu Mobile by 113.6% during the 2nd quarter. Bank of Montreal Can now owns 160,540 shares of the company’s stock worth $401,000 after purchasing an additional 85,371 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Glu Mobile by 86.0% during the 2nd quarter. GSA Capital Partners LLP now owns 351,800 shares of the company’s stock worth $880,000 after purchasing an additional 162,700 shares during the last quarter. Morgan Stanley increased its stake in shares of Glu Mobile by 40.5% during the 1st quarter. Morgan Stanley now owns 713,836 shares of the company’s stock worth $1,620,000 after purchasing an additional 205,918 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Glu Mobile by 114.1% during the 2nd quarter. Alliancebernstein L.P. now owns 191,000 shares of the company’s stock worth $478,000 after purchasing an additional 101,800 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Glu Mobile by 8.0% during the 1st quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock worth $10,595,000 after purchasing an additional 344,727 shares during the last quarter. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
GLUU has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Thursday, August 31st. BidaskClub upgraded shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $4.50 price target (up previously from $3.30) on shares of Glu Mobile in a research note on Tuesday, October 31st. Roth Capital restated a “buy” rating and set a $4.00 price target on shares of Glu Mobile in a research note on Tuesday, September 5th. Finally, Wedbush set a $5.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Glu Mobile currently has an average rating of “Buy” and a consensus target price of $3.97.
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In related news, insider Masi Niccolo De sold 131,966 shares of Glu Mobile stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $3.70, for a total value of $488,274.20. Following the completion of the transaction, the insider now directly owns 512,859 shares in the company, valued at approximately $1,897,578.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hany Nada sold 766,456 shares of Glu Mobile stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $4.51, for a total transaction of $3,456,716.56. The disclosure for this sale can be found here. Insiders sold a total of 1,232,422 shares of company stock valued at $5,145,821 over the last quarter. 5.60% of the stock is owned by company insiders.
Glu Mobile Inc. (NASDAQ GLUU) opened at $3.90 on Friday. Glu Mobile Inc. has a one year low of $1.83 and a one year high of $4.73. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.05.
Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 34.02%. The business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.67 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The firm’s quarterly revenue was up 57.8% on a year-over-year basis. research analysts forecast that Glu Mobile Inc. will post -0.18 EPS for the current fiscal year.
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.
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