Glu Mobile Inc. (GLUU) Short Interest Update

Glu Mobile Inc. (NASDAQ:GLUU) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 4,867,434 shares, a decrease of 37.2% from the January 15th total of 7,754,533 shares. Approximately 4.3% of the shares of the stock are sold short. Based on an average trading volume of 1,965,112 shares, the days-to-cover ratio is presently 2.5 days.

In other news, Director Benjamin T. Iv Smith sold 179,595 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $7.37, for a total transaction of $1,323,615.15. Following the completion of the transaction, the director now directly owns 189,595 shares in the company, valued at approximately $1,397,315.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc lifted its position in Glu Mobile by 9.9% in the third quarter. Vanguard Group Inc now owns 10,792,797 shares of the company’s stock worth $80,407,000 after buying an additional 975,586 shares during the last quarter. Vanguard Group Inc. lifted its position in Glu Mobile by 9.9% in the third quarter. Vanguard Group Inc. now owns 10,792,797 shares of the company’s stock worth $80,407,000 after buying an additional 975,586 shares during the last quarter. BlackRock Inc. lifted its position in Glu Mobile by 6.4% in the second quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock worth $49,374,000 after buying an additional 460,693 shares during the last quarter. MARSHALL WACE ASIA Ltd lifted its position in Glu Mobile by 34.8% in the third quarter. MARSHALL WACE ASIA Ltd now owns 4,555,849 shares of the company’s stock worth $33,941,000 after buying an additional 1,176,427 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Glu Mobile by 14,199.2% in the third quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock worth $23,774,000 after buying an additional 3,168,975 shares during the last quarter. Institutional investors own 58.12% of the company’s stock.

A number of research analysts have recently commented on GLUU shares. Stephens started coverage on Glu Mobile in a research report on Thursday, January 10th. They set an “overweight” rating and a $10.50 target price for the company. BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 1st. Piper Jaffray Companies increased their target price on Glu Mobile to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, February 5th. Cowen increased their target price on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research report on Monday, December 10th. Finally, Wedbush set a $10.20 target price on Glu Mobile and gave the company a “neutral” rating in a research report on Tuesday, February 5th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $9.31.

Shares of GLUU opened at $9.36 on Thursday. The firm has a market capitalization of $1.36 billion, a P/E ratio of -117.00, a P/E/G ratio of 3.51 and a beta of 0.90. Glu Mobile has a 52-week low of $3.58 and a 52-week high of $10.41. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.02.

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Glu Mobile Company Profile

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 in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.

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