Alambic Investment Management L.P. decreased its position in Glu Mobile Inc. (NASDAQ:GLUU) by 4.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 34,640 shares of the company’s stock after selling 1,560 shares during the quarter. Alambic Investment Management L.P.’s holdings in Glu Mobile were worth $218,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. DNB Asset Management AS grew its position in Glu Mobile by 32.9% during the 1st quarter. DNB Asset Management AS now owns 4,130,763 shares of the company’s stock worth $25,900,000 after acquiring an additional 1,022,780 shares during the last quarter. Emerald Advisers LLC grew its holdings in shares of Glu Mobile by 47.6% during the first quarter. Emerald Advisers LLC now owns 3,700,280 shares of the company’s stock worth $23,275,000 after purchasing an additional 1,192,546 shares during the last quarter. State Street Corp grew its holdings in shares of Glu Mobile by 35.9% during the fourth quarter. State Street Corp now owns 3,591,297 shares of the company’s stock worth $21,727,000 after purchasing an additional 948,214 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Glu Mobile by 5.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,324,773 shares of the company’s stock valued at $20,115,000 after buying an additional 183,877 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of Glu Mobile by 31.8% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 3,287,396 shares of the company’s stock valued at $20,678,000 after buying an additional 793,765 shares during the last quarter. Institutional investors and hedge funds own 68.00% of the company’s stock.
Several research firms have weighed in on GLUU. Stephens downgraded shares of Glu Mobile from an “equal weight” rating to an “underweight” rating in a research note on Sunday, April 19th. Wedbush reissued a “buy” rating and issued a $11.50 price target on shares of Glu Mobile in a report on Friday, May 8th. Stifel Nicolaus upped their price objective on Glu Mobile from $8.00 to $8.75 and gave the stock a “buy” rating in a report on Thursday, February 6th. ValuEngine cut Glu Mobile from a “buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Morgan Stanley lowered Glu Mobile from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $8.00 to $10.50 in a research note on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Glu Mobile has an average rating of “Buy” and an average target price of $8.69.
NASDAQ GLUU traded down $0.07 on Friday, reaching $9.43. The company had a trading volume of 1,418,034 shares, compared to its average volume of 3,220,840. Glu Mobile Inc. has a 52 week low of $3.98 and a 52 week high of $10.72. The stock’s 50 day moving average is $7.88 and its 200-day moving average is $6.59. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 157.17, a PEG ratio of 4.18 and a beta of 0.78.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Glu Mobile had a negative net margin of 0.02% and a positive return on equity of 0.37%. The company had revenue of $107.30 million during the quarter, compared to the consensus estimate of $96.75 million. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, analysts forecast that Glu Mobile Inc. will post 0.15 EPS for the current year.
In related news, VP Puneet Kedia sold 4,049 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $7.13, for a total transaction of $28,869.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Brandeau sold 42,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $9.93, for a total value of $417,060.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $347,550. The disclosure for this sale can be found here. 6.84% of the stock is currently owned by corporate insiders.
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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