Brokerages Set Glu Mobile Inc. (GLUU) Target Price at $3.16

Shares of Glu Mobile Inc. (NASDAQ:GLUU) have been given an average recommendation of “Buy” by the ten analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.16.

A number of brokerages have issued reports on GLUU. Cowen and Company reissued an “outperform” rating and issued a $3.00 target price on shares of Glu Mobile in a research report on Thursday, May 4th. Wedbush reissued a “hold” rating on shares of Glu Mobile in a research report on Wednesday, August 2nd. Roth Capital set a $4.00 target price on Glu Mobile and gave the company a “buy” rating in a research report on Wednesday, May 24th. BidaskClub raised Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $3.00 target price on shares of Glu Mobile in a research report on Thursday, August 10th.

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In other Glu Mobile news, insider Masi Niccolo De sold 339,648 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $2.59, for a total value of $879,688.32. Following the completion of the transaction, the insider now owns 537,228 shares in the company, valued at $1,391,420.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock valued at $113,000 after buying an additional 901 shares during the period. IHT Wealth Management LLC acquired a new position in Glu Mobile during the second quarter valued at approximately $592,000. American International Group Inc. increased its position in Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock valued at $144,000 after buying an additional 4,196 shares during the period. Prudential Financial Inc. increased its position in Glu Mobile by 4.0% in the second quarter. Prudential Financial Inc. now owns 119,504 shares of the company’s stock valued at $299,000 after buying an additional 4,600 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Glu Mobile by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 375,890 shares of the company’s stock valued at $940,000 after buying an additional 5,818 shares during the period. Institutional investors and hedge funds own 29.85% of the company’s stock.

Shares of Glu Mobile (NASDAQ:GLUU) traded down 0.96% during midday trading on Friday, reaching $3.08. The company’s stock had a trading volume of 2,239,436 shares. Glu Mobile has a one year low of $1.73 and a one year high of $3.21. The firm’s market cap is $417.08 million. The stock’s 50 day moving average price is $2.75 and its 200 day moving average price is $2.45.

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.

Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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