JPMorgan Chase & Co. Has $899,000 Stake in Glu Mobile Inc. (GLUU)

JPMorgan Chase & Co. lifted its holdings in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 4,428.2% during the 3rd quarter, Holdings Channel reports. The firm owned 243,709 shares of the company’s stock after acquiring an additional 238,327 shares during the period. JPMorgan Chase & Co.’s holdings in Glu Mobile were worth $899,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 7,131 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Glu Mobile by 19.2% in the second quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock valued at $142,000 after acquiring an additional 9,186 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Glu Mobile by 4.0% in the second quarter. Prudential Financial Inc. now owns 119,504 shares of the company’s stock valued at $299,000 after acquiring an additional 4,600 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Glu Mobile in the second quarter valued at $370,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in Glu Mobile by 106.6% in the second quarter. Parametric Portfolio Associates LLC now owns 167,454 shares of the company’s stock valued at $419,000 after acquiring an additional 86,388 shares during the last quarter. Institutional investors and hedge funds own 35.54% of the company’s stock.

Glu Mobile Inc. (NASDAQ GLUU) opened at $3.77 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09. Glu Mobile Inc. has a 52-week low of $1.85 and a 52-week high of $4.95.

Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings data 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 company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.67 million. During the same period last year, the business earned ($0.33) earnings per share. The company’s revenue for the quarter was up 57.8% compared to the same quarter last year. equities analysts anticipate that Glu Mobile Inc. will post -0.18 EPS for the current year.

In other Glu Mobile news, COO Eric R. Ludwig sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $3.90, for a total value of $128,700.00. Following the transaction, the chief operating officer now directly owns 72,000 shares of the company’s stock, valued at $280,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Masi Niccolo De sold 131,966 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $3.70, for a total value of $488,274.20. Following the completion of the transaction, the insider now directly owns 512,859 shares in the company, valued at $1,897,578.30. The disclosure for this sale can be found here. Insiders sold 936,422 shares of company stock worth $4,093,391 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

A number of brokerages recently weighed in on GLUU. BidaskClub cut Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. ValuEngine cut Glu Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Zacks Investment Research cut Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $4.50 target price (up previously from $3.30) on shares of Glu Mobile in a report on Tuesday, October 31st. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $3.00 target price on shares of Glu Mobile in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Glu Mobile has a consensus rating of “Hold” and a consensus price target of $3.97.

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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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Institutional Ownership by Quarter for Glu Mobile (NASDAQ:GLUU)

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