Glu Mobile Inc. (GLUU) Rating Reiterated by Canaccord Genuity

Glu Mobile Inc. (NASDAQ:GLUU)‘s stock had its “hold” rating reissued by analysts at Canaccord Genuity in a report released on Thursday. They presently have a $3.00 price objective on the stock. Canaccord Genuity’s price objective would suggest a potential downside of 2.60% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research note on Monday, August 7th. Roth Capital set a $4.00 price target on shares of Glu Mobile and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and issued a $3.50 price target (up previously from $3.00) on shares of Glu Mobile in a research note on Wednesday, August 2nd. Wedbush reiterated a “hold” rating on shares of Glu Mobile in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $3.30 price target (up previously from $2.80) on shares of Glu Mobile in a research note on Monday, July 31st. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $3.03.

Shares of Glu Mobile (NASDAQ:GLUU) opened at 3.08 on Thursday. Glu Mobile has a 12 month low of $1.73 and a 12 month high of $3.21. The stock’s market cap is $417.08 million. The company has a 50 day moving average price of $2.72 and a 200-day moving average price of $2.43.

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In other news, insider Masi Niccolo De sold 339,648 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $2.59, for a total value of $879,688.32. Following the sale, the insider now directly owns 537,228 shares in the company, valued at approximately $1,391,420.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Menta Capital LLC acquired a new stake in Glu Mobile during the first quarter worth $3,359,000. Princeton Portfolio Strategies Group LLC acquired a new stake in Glu Mobile during the first quarter worth $153,000. American International Group Inc. increased its stake in Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after buying an additional 4,196 shares during the period. SG Americas Securities LLC acquired a new stake in Glu Mobile during the first quarter worth $582,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in Glu Mobile during the first quarter worth $184,000. Hedge funds and other institutional investors own 30.17% of the company’s stock.

Glu Mobile Company Profile

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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