Great West Life Assurance Co. Can lowered its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 46.9% during the third quarter, HoldingsChannel reports. The firm owned 6,153 shares of the company’s stock after selling 5,443 shares during the period. Great West Life Assurance Co. Can’s holdings in Glu Mobile were worth $31,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in shares of Glu Mobile during the third quarter valued at approximately $99,000. Prospera Financial Services Inc raised its stake in shares of Glu Mobile by 8.8% during the third quarter. Prospera Financial Services Inc now owns 33,147 shares of the company’s stock valued at $165,000 after purchasing an additional 2,683 shares during the period. Virginia Retirement Systems ET AL raised its stake in shares of Glu Mobile by 15.2% during the third quarter. Virginia Retirement Systems ET AL now owns 103,700 shares of the company’s stock valued at $517,000 after purchasing an additional 13,700 shares during the period. DNB Asset Management AS purchased a new stake in shares of Glu Mobile during the third quarter valued at approximately $17,010,000. Finally, Scholtz & Company LLC raised its stake in shares of Glu Mobile by 1,828.0% during the second quarter. Scholtz & Company LLC now owns 220,375 shares of the company’s stock valued at $1,582,000 after purchasing an additional 208,945 shares during the period. Institutional investors own 65.43% of the company’s stock.
Shares of 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 company has a fifty day simple moving average of $5.55 and a 200 day simple moving average of $6.71. The firm has a market cap of $866.56 million, a PE ratio of -72.63, a price-to-earnings-growth ratio of 3.71 and a beta of 1.15. Glu Mobile Inc. has a 12-month low of $4.11 and a 12-month high of $11.75.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.13). The company had revenue of $120.40 million during the quarter, compared to the consensus estimate of $111.00 million. Glu Mobile had a return on equity of 3.39% and a net margin of 0.41%. The business’s revenue was up 19.6% compared to the same quarter last year. As a group, equities research analysts forecast that Glu Mobile Inc. will post 0.11 EPS for the current fiscal year.
GLUU has been the topic of a number of analyst reports. BidaskClub upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Saturday, September 7th. ValuEngine upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Wedbush reiterated a “buy” rating and set a $7.50 price objective on shares of Glu Mobile in a research note on Thursday. Roth Capital upgraded shares of Glu Mobile from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Wednesday, September 11th. Finally, DA Davidson initiated coverage on shares of Glu Mobile in a research note on Tuesday, September 24th. They set a “buy” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $7.53.
In related news, VP Scott Leichtner sold 54,357 shares of Glu Mobile stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $4.56, for a total value of $247,867.92. Following the completion of the sale, the vice president now owns 252,669 shares in the company, valued at $1,152,170.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greg Brandeau sold 12,498 shares of Glu Mobile stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $6.00, for a total transaction of $74,988.00. Following the completion of the sale, the director now owns 29,166 shares of the company’s stock, valued at approximately $174,996. The disclosure for this sale can be found here. 6.84% of the stock is currently owned by 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.
Further Reading: What causes a recession?
Want to see what other hedge funds are holding GLUU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glu Mobile Inc. (NASDAQ:GLUU).
Receive News & Ratings for Glu Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile and related companies with MarketBeat.com's FREE daily email newsletter.