Princeton Portfolio Strategies Group LLC purchased a new position in Glu Mobile Inc. (NASDAQ:GLUU) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 67,300 shares of the company’s stock, valued at approximately $153,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLUU. Creative Planning raised its stake in shares of Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock worth $113,000 after buying an additional 901 shares in the last quarter. American International Group Inc. raised its stake in shares of Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock worth $144,000 after buying an additional 4,196 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Glu Mobile by 140.8% in the first quarter. UBS Asset Management Americas Inc. now owns 73,207 shares of the company’s stock worth $166,000 after buying an additional 42,800 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Glu Mobile during the first quarter worth approximately $171,000. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Glu Mobile during the first quarter worth approximately $184,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.
Glu Mobile Inc. (NASDAQ GLUU) traded up 1.50% during trading on Monday, hitting $2.70. The stock had a trading volume of 2,737,205 shares. Glu Mobile Inc. has a 1-year low of $1.73 and a 1-year high of $2.95. The company’s market capitalization is $363.80 million. The stock’s 50-day moving average price is $2.51 and its 200-day moving average price is $2.25.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.08. Glu Mobile had a negative return on equity of 27.11% and a negative net margin of 43.59%. The business had revenue of $56.80 million during the quarter, compared to analysts’ expectations of $53.59 million. During the same period in the previous year, the company posted ($0.03) EPS. Glu Mobile’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts expect that Glu Mobile Inc. will post ($0.18) earnings per share for the current year.
GLUU has been the subject of a number of recent research reports. Zacks Investment Research raised Glu Mobile from a “sell” rating to a “hold” rating in a report on Friday, March 17th. Cowen and Company reissued an “outperform” rating and set a $3.00 price objective on shares of Glu Mobile in a report on Thursday, May 4th. Mizuho boosted their price objective on Glu Mobile from $2.40 to $2.80 and gave the stock a “neutral” rating in a report on Thursday, May 4th. Finally, Roth Capital set a $4.00 price objective on Glu Mobile and gave the stock a “buy” rating in a report on Wednesday, May 24th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $2.84.
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.
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