Glu Mobile Inc. (NASDAQ:GLUU) SVP Chris Akhavan Sells 379,932 Shares

Glu Mobile Inc. (NASDAQ:GLUU) SVP Chris Akhavan sold 379,932 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $6.86, for a total value of $2,606,333.52. Following the sale, the senior vice president now directly owns 120,530 shares of the company’s stock, valued at $826,835.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of GLUU opened at $7.64 on Friday. The stock has a market capitalization of $1.00 billion, a P/E ratio of 127.35, a P/E/G ratio of 4.13 and a beta of 1.11. Glu Mobile Inc. has a twelve month low of $4.11 and a twelve month high of $11.75. The company has a 50 day moving average of $6.29 and a 200-day moving average of $5.64. The company has a quick ratio of 1.32, a current ratio of 1.42 and a debt-to-equity ratio of 0.18.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $103.64 million. Glu Mobile had a net margin of 2.16% and a return on equity of 5.63%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. On average, sell-side analysts anticipate that Glu Mobile Inc. will post 0.11 earnings per share for the current fiscal year.

A number of analysts recently issued reports on the company. Stephens cut Glu Mobile from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 8th. Zacks Investment Research cut Glu Mobile from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Stifel Nicolaus increased their target price on Glu Mobile from to and gave the stock a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley reissued a “buy” rating and set a $8.00 target price on shares of Glu Mobile in a research note on Monday. Finally, BidaskClub raised Glu Mobile from a “sell” rating to a “hold” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $7.58.

Several institutional investors and hedge funds have recently modified their holdings of GLUU. DNB Asset Management AS bought a new position in shares of Glu Mobile during the 3rd quarter worth approximately $17,010,000. State Street Corp grew its stake in shares of Glu Mobile by 35.9% during the 4th quarter. State Street Corp now owns 3,591,297 shares of the company’s stock worth $21,727,000 after acquiring an additional 948,214 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Glu Mobile by 4,811.3% during the 4th quarter. Principal Financial Group Inc. now owns 925,925 shares of the company’s stock worth $5,602,000 after acquiring an additional 907,072 shares in the last quarter. Raging Capital Management LLC bought a new position in shares of Glu Mobile during the 3rd quarter worth approximately $2,562,000. Finally, Renaissance Technologies LLC grew its stake in shares of Glu Mobile by 2,998.0% during the 4th quarter. Renaissance Technologies LLC now owns 470,900 shares of the company’s stock worth $2,849,000 after acquiring an additional 455,700 shares in the last quarter. 64.03% of the stock is owned by institutional investors.

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 primarily in four genres, including home d├ęcor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.

Featured Story: How much money do you need to begin day trading?

Insider Buying and Selling by Quarter for Glu Mobile (NASDAQ:GLUU)

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.