State Street Corp Boosts Position in Glu Mobile Inc. (GLUU)
State Street Corp increased its stake in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,914,877 shares of the company’s stock after purchasing an additional 120,550 shares during the quarter. State Street Corp owned approximately 1.41% of Glu Mobile worth $4,791,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. ETF Managers Group LLC acquired a new stake in shares of Glu Mobile during the second quarter worth approximately $1,099,000. Lyon Street Capital LLC acquired a new stake in shares of Glu Mobile during the second quarter worth approximately $563,000. Goldman Sachs Group Inc. boosted its holdings in shares of Glu Mobile by 15.0% during the second quarter. Goldman Sachs Group Inc. now owns 54,822 shares of the company’s stock worth $137,000 after purchasing an additional 7,131 shares during the period. Northern Right Capital Management L.P. boosted its holdings in shares of Glu Mobile by 109.9% during the second quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after purchasing an additional 1,444,816 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of Glu Mobile by 19.2% during the second quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock worth $142,000 after purchasing an additional 9,186 shares during the period. Institutional investors and hedge funds own 35.66% of the company’s stock.
In other 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 transaction, the insider now owns 512,859 shares of the company’s stock, valued at $1,897,578.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Eric R. Ludwig sold 33,000 shares of Glu Mobile stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $3.90, for a total transaction of $128,700.00. Following the completion of the transaction, the chief operating officer now directly owns 72,000 shares in the company, valued at approximately $280,800. The disclosure for this sale can be found here. Insiders sold 1,196,422 shares of company stock valued at $5,055,591 over the last quarter. Corporate insiders own 5.60% of the company’s stock.
Several analysts recently commented on GLUU shares. Canaccord Genuity restated a “hold” rating and set a $3.00 price target on shares of Glu Mobile in a report on Thursday, August 10th. Roth Capital set a $4.00 price target on shares of Glu Mobile and gave the stock a “buy” rating in a report on Thursday, August 17th. ValuEngine upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Glu Mobile in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $3.97.
Shares of Glu Mobile Inc. (NASDAQ:GLUU) opened at $4.09 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09. Glu Mobile Inc. has a one year low of $1.85 and a one year high of $4.73.
Glu Mobile (NASDAQ:GLUU) last posted its earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.67 million. Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. Glu Mobile’s revenue was up 57.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.33) earnings per share. research analysts expect that Glu Mobile Inc. will post -0.18 EPS for the current fiscal year.
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.
Want to see what other hedge funds are holding GLUU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glu Mobile Inc. (NASDAQ:GLUU).
Receive News & Ratings for Glu Mobile Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile Inc. and related companies with MarketBeat.com's FREE daily email newsletter.