Glu Mobile Inc. (NASDAQ:GLUU)‘s stock had its “buy” rating reaffirmed by equities research analysts at Stifel Nicolaus in a research note issued on Tuesday, MarketBeat reports. They currently have a $4.50 price objective on the stock, up from their previous price objective of $3.30. Stifel Nicolaus’ target price would suggest a potential upside of 14.50% from the company’s current price.

A number of other analysts have also recently weighed in on GLUU. Canaccord Genuity reaffirmed a “hold” rating and issued a $3.00 price target on shares of Glu Mobile in a research report on Thursday, August 10th. ValuEngine raised Glu Mobile from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Wedbush reaffirmed a “hold” rating on shares of Glu Mobile in a research report on Wednesday, August 2nd. Roth Capital set a $4.00 price target on Glu Mobile and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research cut Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $3.66.

Shares of Glu Mobile (NASDAQ GLUU) traded up 2.04% during midday trading on Tuesday, hitting $4.01. The company had a trading volume of 2,709,039 shares. Glu Mobile has a one year low of $1.73 and a one year high of $4.73. The firm’s market cap is $543.01 million. The company’s 50 day moving average is $3.86 and its 200 day moving average is $3.04.

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In other Glu Mobile news, Director Hany Nada sold 766,456 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $4.51, for a total value of $3,456,716.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric R. Ludwig sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $3.43, for a total value of $85,750.00. Following the completion of the transaction, the chief operating officer now directly owns 82,000 shares of the company’s stock, valued at approximately $281,260. The disclosure for this sale can be found here. Insiders have sold a total of 1,100,456 shares of company stock valued at $4,657,547 in the last three months. 5.60% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in Glu Mobile by 113.6% in the 2nd quarter. Bank of Montreal Can now owns 160,540 shares of the company’s stock valued at $401,000 after acquiring an additional 85,371 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Glu Mobile by 163.9% in the 1st quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock valued at $303,000 after acquiring an additional 83,002 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Glu Mobile by 86.0% in the 2nd quarter. GSA Capital Partners LLP now owns 351,800 shares of the company’s stock valued at $880,000 after acquiring an additional 162,700 shares in the last quarter. Morgan Stanley raised its holdings in Glu Mobile by 40.5% in the 1st quarter. Morgan Stanley now owns 713,836 shares of the company’s stock valued at $1,620,000 after acquiring an additional 205,918 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Glu Mobile by 8.0% in the 1st quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock valued at $10,595,000 after acquiring an additional 344,727 shares in the last quarter. 35.08% of the stock is owned by hedge funds and other institutional investors.

About Glu Mobile

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.

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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