ClariVest Asset Management LLC Has $1.54 Million Stake in Glu Mobile Inc. (GLUU)
ClariVest Asset Management LLC increased its position in Glu Mobile Inc. (NASDAQ:GLUU) by 770.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,811 shares of the company’s stock after buying an additional 183,063 shares during the period. ClariVest Asset Management LLC’s holdings in Glu Mobile were worth $1,539,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Handelsinvest Investeringsforvaltning acquired a new position in shares of Glu Mobile in the second quarter valued at approximately $1,282,000. Bank of New York Mellon Corp raised its position in shares of Glu Mobile by 34.0% in the second quarter. Bank of New York Mellon Corp now owns 650,254 shares of the company’s stock valued at $4,168,000 after buying an additional 165,118 shares during the last quarter. BlackRock Inc. raised its position in shares of Glu Mobile by 6.4% in the second quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock valued at $49,374,000 after buying an additional 460,693 shares during the last quarter. BlueMountain Capital Management LLC raised its position in shares of Glu Mobile by 11.4% in the second quarter. BlueMountain Capital Management LLC now owns 148,995 shares of the company’s stock valued at $955,000 after buying an additional 15,274 shares during the last quarter. Finally, Emerald Advisers Inc. PA acquired a new position in shares of Glu Mobile in the second quarter valued at approximately $130,000. 58.32% of the stock is owned by institutional investors and hedge funds.
In related news, COO Eric R. Ludwig sold 142,500 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $7.32, for a total transaction of $1,043,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the transaction, the director now directly owns 103,666 shares of the company’s stock, valued at approximately $654,132.46. The disclosure for this sale can be found here. Insiders have sold 371,713 shares of company stock valued at $2,622,978 in the last ninety days. 5.80% of the stock is currently owned by company insiders.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Glu Mobile had a negative net margin of 14.65% and a negative return on equity of 19.28%. The firm had revenue of $99.30 million during the quarter, compared to analyst estimates of $96.14 million. During the same quarter in the prior year, the business posted ($0.09) earnings per share. Glu Mobile’s revenue for the quarter was up 22.4% compared to the same quarter last year. Research analysts anticipate that Glu Mobile Inc. will post 0.1 EPS for the current year.
A number of research firms have recently weighed in on GLUU. BidaskClub raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. Zacks Investment Research raised shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, November 13th. Wedbush reissued a “hold” rating and issued a $7.00 price objective on shares of Glu Mobile in a research report on Wednesday, November 7th. Finally, Roth Capital lowered shares of Glu Mobile from a “buy” rating to a “neutral” rating in a research report on Monday, October 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $7.50.
About Glu Mobile
Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.
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