Glu Mobile Inc. (NASDAQ:GLUU) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.88 and last traded at $6.75, with a volume of 291508 shares. The stock had previously closed at $6.64.

Several brokerages have issued reports on GLUU. Stifel Nicolaus increased their price target on Glu Mobile from $5.50 to $6.50 and gave the stock a “buy” rating in a report on Tuesday, June 5th. Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. Wedbush set a $7.00 price objective on Glu Mobile and gave the stock a “hold” rating in a research note on Thursday, July 26th. Finally, BidaskClub downgraded Glu Mobile from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $6.14.

The company has a market capitalization of $911.80 million, a P/E ratio of -13.20, a P/E/G ratio of 5.36 and a beta of 1.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.16 and a quick ratio of 1.16.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Tuesday, July 31st. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.08). The company had revenue of $90.20 million during the quarter, compared to analysts’ expectations of $91.56 million. Glu Mobile had a negative return on equity of 26.30% and a negative net margin of 18.88%. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. analysts anticipate that Glu Mobile Inc. will post 0.08 EPS for the current fiscal year.

In other news, VP Gordon S. Lee sold 72,006 shares of the stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $5.62, for a total value of $404,673.72. Following the completion of the sale, the vice president now directly owns 72,006 shares of the company’s stock, valued at $404,673.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Greg Brandeau sold 25,000 shares of the stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $5.53, for a total value of $138,250.00. Following the completion of the sale, the director now directly owns 25,000 shares of the company’s stock, valued at $138,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,205,963 shares of company stock valued at $7,333,391. Company insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System increased its position in shares of Glu Mobile by 1.1% during the first quarter. California Public Employees Retirement System now owns 908,986 shares of the company’s stock valued at $3,427,000 after acquiring an additional 10,248 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Glu Mobile by 42.7% during the second quarter. Metropolitan Life Insurance Co. NY now owns 36,187 shares of the company’s stock valued at $232,000 after acquiring an additional 10,832 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Glu Mobile by 16.6% during the first quarter. Prudential Financial Inc. now owns 79,264 shares of the company’s stock valued at $299,000 after acquiring an additional 11,300 shares during the last quarter. BlueMountain Capital Management LLC increased its position in shares of Glu Mobile by 11.4% during the second quarter. BlueMountain Capital Management LLC now owns 148,995 shares of the company’s stock valued at $955,000 after acquiring an additional 15,274 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Glu Mobile by 4.0% during the fourth quarter. Bank of New York Mellon Corp now owns 490,496 shares of the company’s stock valued at $1,785,000 after acquiring an additional 18,959 shares during the last quarter. 48.24% of the stock is owned by institutional investors.

Glu Mobile Company Profile (NASDAQ:GLUU)

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 in four genres, including home d├ęcor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.

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