Bank of New York Mellon Corp decreased its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 525,864 shares of the company’s stock after selling 64,768 shares during the period. Bank of New York Mellon Corp’s holdings in Glu Mobile were worth $4,244,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its position in Glu Mobile by 26.9% during the fourth quarter. Handelsbanken Fonder AB now owns 1,650,000 shares of the company’s stock valued at $13,316,000 after acquiring an additional 350,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Glu Mobile by 79.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,752 shares of the company’s stock valued at $71,000 after acquiring an additional 3,870 shares during the last quarter. Vanguard Group Inc. increased its position in Glu Mobile by 9.9% during the third quarter. Vanguard Group Inc. now owns 10,792,797 shares of the company’s stock valued at $80,407,000 after acquiring an additional 975,586 shares during the last quarter. Cim LLC bought a new position in shares of Glu Mobile in the fourth quarter worth about $143,000. Finally, Nordea Investment Management AB grew its holdings in shares of Glu Mobile by 9.6% in the third quarter. Nordea Investment Management AB now owns 584,594 shares of the company’s stock worth $4,355,000 after purchasing an additional 50,980 shares during the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.
In related news, Director Hany Nada sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $9.18, for a total value of $459,000.00. Following the completion of the sale, the director now directly owns 240,200 shares of the company’s stock, valued at $2,205,036. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is owned by corporate insiders.
A number of research analysts have recently commented on GLUU shares. Piper Jaffray Companies upped their price target on shares of Glu Mobile to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 5th. Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a report on Friday, January 4th. BidaskClub upgraded shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 1st. Stephens started coverage on shares of Glu Mobile in a report on Thursday, January 10th. They issued an “overweight” rating and a $10.50 price target on the stock. Finally, Wedbush set a $10.20 price target on shares of Glu Mobile and gave the stock a “neutral” rating in a report on Tuesday, February 5th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Glu Mobile has a consensus rating of “Buy” and an average target price of $9.31.
NASDAQ:GLUU opened at $10.65 on Wednesday. Glu Mobile Inc. has a 1-year low of $4.07 and a 1-year high of $11.75. The stock has a market capitalization of $1.60 billion, a P/E ratio of -133.13, a price-to-earnings-growth ratio of 4.27 and a beta of 0.76.
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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 décor, 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.
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