California State Teachers Retirement System decreased its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,184 shares of the company’s stock after selling 17,823 shares during the quarter. California State Teachers Retirement System owned 0.12% of Glu Mobile worth $625,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Glu Mobile by 4,428.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 243,709 shares of the company’s stock valued at $899,000 after buying an additional 238,327 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Glu Mobile by 371.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 696,400 shares of the company’s stock valued at $2,618,000 after buying an additional 548,600 shares in the last quarter. State Street Corp lifted its position in shares of Glu Mobile by 6.7% during the 2nd 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 in the last quarter. Alliancebernstein L.P. lifted its position in shares of Glu Mobile by 114.1% during the 2nd quarter. Alliancebernstein L.P. now owns 191,000 shares of the company’s stock valued at $478,000 after buying an additional 101,800 shares in the last quarter. Finally, EAM Investors LLC purchased a new position in shares of Glu Mobile during the 3rd quarter valued at approximately $2,327,000. 35.62% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Eric R. Ludwig sold 33,000 shares of Glu Mobile stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $3.90, for a total transaction of $128,700.00. Following the transaction, the chief operating officer now owns 72,000 shares in the company, valued at approximately $280,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is owned by insiders.
Shares of Glu Mobile Inc. (NASDAQ GLUU) traded down $0.17 during mid-day trading on Friday, reaching $3.25. The company’s stock had a trading volume of 4,765,727 shares, compared to its average volume of 2,541,356. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.03. The stock has a market cap of $445.36, a price-to-earnings ratio of -4.51 and a beta of 1.61. Glu Mobile Inc. has a 12 month low of $1.85 and a 12 month high of $4.95.
A number of research analysts have recently issued reports on GLUU shares. BidaskClub upgraded Glu Mobile from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Stifel Nicolaus restated a “buy” rating and issued a $4.50 price objective (up previously from $3.30) on shares of Glu Mobile in a report on Tuesday, October 31st. Wedbush set a $5.00 price objective on Glu Mobile and gave the company a “hold” rating in a report on Friday. Canaccord Genuity restated a “hold” rating and issued a $3.00 price objective on shares of Glu Mobile in a report on Monday, October 30th. Finally, Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $4.01.
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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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