State Street Corp raised its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,914,877 shares of the company’s stock after acquiring an additional 120,550 shares during the period. State Street Corp owned approximately 1.41% of Glu Mobile worth $4,791,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Glu Mobile by 8.0% in the first quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock worth $10,595,000 after purchasing an additional 344,727 shares in the last quarter. Northern Right Capital Management L.P. increased its holdings in shares of Glu Mobile by 109.9% during the second quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after buying an additional 1,444,816 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Glu Mobile by 1.8% during the second quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock worth $2,857,000 after buying an additional 20,300 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Glu Mobile by 2.0% during the first quarter. Geode Capital Management LLC now owns 879,018 shares of the company’s stock worth $1,995,000 after buying an additional 17,600 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Glu Mobile by 2.2% during the second quarter. California Public Employees Retirement System now owns 812,300 shares of the company’s stock worth $2,031,000 after buying an additional 17,600 shares in the last quarter. Institutional investors and hedge funds own 35.66% of the company’s stock.
Shares of Glu Mobile Inc. (NASDAQ GLUU) opened at $4.52 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09. Glu Mobile Inc. has a twelve month low of $1.85 and a twelve month high of $4.95.
Glu Mobile (NASDAQ:GLUU) last issued its earnings results on Wednesday, November 1st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.67 million. Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. Glu Mobile’s quarterly revenue was up 57.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. analysts expect that Glu Mobile Inc. will post -0.18 earnings per share for the current fiscal year.
In other Glu Mobile news, COO Eric R. Ludwig sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $3.75, for a total value of $375,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eric R. Ludwig sold 160,000 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $3.67, for a total transaction of $587,200.00. The disclosure for this sale can be found here. Insiders sold a total of 1,196,422 shares of company stock valued at $5,055,591 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.
GLUU has been the topic of several research analyst reports. Zacks Investment Research raised shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Thursday, August 24th. Roth Capital set a $4.00 price objective on shares of Glu Mobile and gave the company a “buy” rating in a research note on Thursday, August 17th. BidaskClub raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Canaccord Genuity restated a “hold” rating and set a $3.00 price objective on shares of Glu Mobile in a report on Monday, October 30th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Glu Mobile in a research note on Thursday, September 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $3.97.
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Glu Mobile 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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