Great West Life Assurance Co. Can lessened its stake in Glu Mobile Inc. (NASDAQ:GLUU) by 46.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,153 shares of the company’s stock after selling 5,443 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Glu Mobile were worth $31,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Aperio Group LLC purchased a new position in shares of Glu Mobile in the 2nd quarter valued at about $56,000. Wedbush Securities Inc. purchased a new position in shares of Glu Mobile in the 2nd quarter valued at about $75,000. Stansberry Asset Management LLC purchased a new position in shares of Glu Mobile in the 2nd quarter valued at about $77,000. Bank of Montreal Can increased its holdings in shares of Glu Mobile by 491.7% in the 2nd quarter. Bank of Montreal Can now owns 11,526 shares of the company’s stock valued at $83,000 after purchasing an additional 9,578 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Glu Mobile by 14.8% in the 2nd quarter. Creative Planning now owns 11,650 shares of the company’s stock valued at $84,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 65.43% of the company’s stock.
In other Glu Mobile news, VP Scott Leichtner sold 54,357 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $4.56, for a total transaction of $247,867.92. Following the sale, the vice president now directly owns 252,669 shares of the company’s stock, valued at approximately $1,152,170.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg Brandeau sold 12,498 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $6.00, for a total transaction of $74,988.00. Following the sale, the director now directly owns 29,166 shares in the company, valued at $174,996. The disclosure for this sale can be found here. Company insiders own 6.84% of the company’s stock.
GLUU has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. Benchmark upgraded shares of Glu Mobile to a “buy” rating and set a $8.00 target price for the company in a report on Tuesday, September 10th. Zacks Investment Research downgraded shares of Glu Mobile from a “hold” rating to a “strong sell” rating in a report on Thursday. Roth Capital upgraded shares of Glu Mobile from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, September 11th. Finally, Wedbush restated a “buy” rating and set a $7.50 target price on shares of Glu Mobile in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. Glu Mobile presently has an average rating of “Buy” and an average target price of $7.53.
NASDAQ:GLUU opened at $5.81 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $6.71. Glu Mobile Inc. has a twelve month low of $4.11 and a twelve month high of $11.75. The company has a market capitalization of $866.56 million, a P/E ratio of -72.63, a price-to-earnings-growth ratio of 3.71 and a beta of 1.15.
Glu Mobile (NASDAQ:GLUU) last posted its earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.13). Glu Mobile had a net margin of 0.41% and a return on equity of 3.39%. The business had revenue of $120.40 million for the quarter, compared to analysts’ expectations of $111.00 million. The business’s quarterly revenue was up 19.6% on a year-over-year basis. On average, equities research analysts predict that Glu Mobile Inc. will post 0.11 earnings per share for the current year.
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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