Stephens assumed coverage on shares of Glu Mobile (NASDAQ:GLUU) in a report issued on Thursday morning, MarketBeat.com reports. The firm issued an overweight rating and a $10.50 price objective on the stock.
A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded Glu Mobile from a hold rating to a buy rating and set a $9.00 target price on the stock in a research report on Tuesday, November 13th. BidaskClub raised Glu Mobile from a hold rating to a buy rating in a research note on Saturday, November 10th. Cowen increased their price objective on Glu Mobile to $9.50 and gave the company an outperform rating in a research note on Monday, December 10th. Wedbush reissued a hold rating and issued a $7.00 price objective on shares of Glu Mobile in a research note on Wednesday, November 7th. Finally, Roth Capital downgraded Glu Mobile from a buy rating to a neutral rating in a research note on Monday, October 8th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $8.21.
Shares of GLUU stock traded up $0.29 during trading hours on Thursday, reaching $9.38. 4,944,854 shares of the company’s stock were exchanged, compared to its average volume of 2,864,382. Glu Mobile has a 1 year low of $3.02 and a 1 year high of $9.73. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -18.59, a PEG ratio of 4.02 and a beta of 0.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.26 and a current ratio of 1.26.
In other news, insider Masi Niccolo De sold 89,310 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $7.01, for a total transaction of $626,063.10. Following the completion of the transaction, the insider now directly owns 766,669 shares in the company, valued at approximately $5,374,349.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Benjamin T. Iv Smith sold 179,595 shares of the stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $7.37, for a total value of $1,323,615.15. Following the transaction, the director now owns 189,595 shares of the company’s stock, valued at $1,397,315.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 308,808 shares of company stock valued at $2,272,494. 5.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Glu Mobile by 9.9% during the 3rd quarter. Vanguard Group Inc. now owns 10,792,797 shares of the company’s stock worth $80,407,000 after purchasing an additional 975,586 shares during the period. Vanguard Group Inc grew its holdings in shares of Glu Mobile by 9.9% during the 3rd quarter. Vanguard Group Inc now owns 10,792,797 shares of the company’s stock worth $80,407,000 after purchasing an additional 975,586 shares during the period. BlackRock Inc. grew its holdings in shares of Glu Mobile by 6.4% during the 2nd quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock worth $49,374,000 after purchasing an additional 460,693 shares during the period. MARSHALL WACE ASIA Ltd grew its holdings in shares of Glu Mobile by 34.8% during the 3rd quarter. MARSHALL WACE ASIA Ltd now owns 4,555,849 shares of the company’s stock worth $33,941,000 after purchasing an additional 1,176,427 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Glu Mobile by 14,199.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock worth $23,774,000 after purchasing an additional 3,168,975 shares during the period. Institutional investors and hedge funds own 56.31% of the company’s stock.
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.
Featured Story: How can investors find ex-dividend dates?
Receive News & Ratings for Glu Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile and related companies with MarketBeat.com's FREE daily email newsletter.