Glu Mobile Inc. (NASDAQ:GLUU) Given Buy Rating at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Glu Mobile Inc. (NASDAQ:GLUU) in a report issued on Monday, July 31st. The brokerage currently has a $3.30 target price on the stock, up from their previous target price of $2.80.

A number of other research analysts have also recently weighed in on the stock. Roth Capital set a $4.00 price objective on shares of Glu Mobile and gave the company a buy rating in a research report on Wednesday, May 24th. BidaskClub upgraded shares of Glu Mobile from a buy rating to a strong-buy rating in a research report on Monday, July 24th. Canaccord Genuity reiterated a hold rating and set a $3.00 price objective on shares of Glu Mobile in a research report on Friday, June 30th. Zacks Investment Research upgraded shares of Glu Mobile from a sell rating to a hold rating in a research report on Tuesday, July 25th. Finally, Cowen and Company reiterated an outperform rating and set a $3.00 price objective on shares of Glu Mobile in a research report on Thursday, May 4th. Five research analysts have rated the stock with a hold rating, five have given 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 an average target price of $3.03.

Glu Mobile (NASDAQ GLUU) opened at 3.20 on Monday. The company’s market cap is $433.32 million. The stock has a 50 day moving average of $2.79 and a 200-day moving average of $2.46. Glu Mobile has a one year low of $1.73 and a one year high of $3.23.

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In other Glu Mobile news, insider Masi Niccolo De sold 339,648 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $2.59, for a total transaction of $879,688.32. Following the completion of the sale, the insider now directly owns 537,228 shares of the company’s stock, valued at $1,391,420.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Eric R. Ludwig sold 49,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $3.12, for a total transaction of $152,880.00. Following the sale, the chief operating officer now directly owns 68,250 shares of the company’s stock, valued at $212,940. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC bought a new position in Glu Mobile during the second quarter valued at about $592,000. State Street Corp increased its position in Glu Mobile by 6.7% in the second quarter. State Street Corp now owns 1,914,877 shares of the company’s stock valued at $4,791,000 after buying an additional 120,550 shares during the period. ETF Managers Group LLC bought a new position in Glu Mobile during the second quarter valued at about $1,099,000. Lyon Street Capital LLC bought a new position in Glu Mobile during the second quarter valued at about $563,000. Finally, Goldman Sachs Group Inc. increased its position in Glu Mobile by 15.0% in the second quarter. Goldman Sachs Group Inc. now owns 54,822 shares of the company’s stock valued at $137,000 after buying an additional 7,131 shares during the period. Hedge funds and other institutional investors own 29.85% 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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