Vanguard Group Inc. trimmed its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,513,442 shares of the company’s stock after selling 154,101 shares during the period. Vanguard Group Inc. owned 3.34% of Glu Mobile worth $11,284,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GLUU. Quantitative Investment Management LLC acquired a new position in Glu Mobile during the 2nd quarter valued at about $1,721,000. Engineers Gate Manager LP boosted its stake in Glu Mobile by 214.6% during the 2nd quarter. Engineers Gate Manager LP now owns 583,115 shares of the company’s stock valued at $1,458,000 after purchasing an additional 397,771 shares during the period. Renaissance Technologies LLC acquired a new position in Glu Mobile during the 1st quarter valued at about $877,000. Morgan Stanley boosted its stake in Glu Mobile by 40.5% during the 1st quarter. Morgan Stanley now owns 713,836 shares of the company’s stock valued at $1,620,000 after purchasing an additional 205,918 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Glu Mobile by 86.0% during the 2nd quarter. GSA Capital Partners LLP now owns 351,800 shares of the company’s stock valued at $880,000 after purchasing an additional 162,700 shares during the period. 35.66% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Eric R. Ludwig sold 160,000 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $3.67, for a total transaction of $587,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Eric R. Ludwig sold 33,000 shares of the business’s 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 sale, the chief operating officer now owns 72,000 shares in the company, valued at approximately $280,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,196,422 shares of company stock valued at $5,055,591. Company insiders own 5.60% of the company’s stock.
Glu Mobile Inc. (NASDAQ:GLUU) traded up $0.09 during mid-day trading on Thursday, reaching $4.30. 3,740,199 shares of the company traded hands, compared to its average volume of 4,564,575. Glu Mobile Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $4.73. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.03.
Glu Mobile (NASDAQ:GLUU) last released its earnings results on Wednesday, November 1st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. The business had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.67 million. During the same period in the prior year, the company earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 57.8% on a year-over-year basis. equities analysts predict that Glu Mobile Inc. will post -0.18 earnings per share for the current fiscal year.
GLUU has been the subject of a number of research analyst reports. Zacks Investment Research raised 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $4.50 price target (up from $3.30) on shares of Glu Mobile in a research note on Tuesday, October 31st. Roth Capital reaffirmed a “buy” rating and issued 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Glu Mobile presently has a consensus rating of “Buy” and an average target price of $3.97.
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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.
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