Economy

Glu Mobile Inc. (GLUU) Downgraded by Zacks Investment Research to Hold

This forecast is a point estimate that provides investors with a benchmark against which to directly compare stock price in the short run.Target prices made by analysts employed by large brokers, who have access to a greater resource pool, are more likely to be met over the 12-month forecast period. Goldman Sachs Group Inc. now owns 47,691 shares of the company's stock worth $108,000 after purchasing an additional 26,535 shares during the period. ETF Managers Group held about 0.32% of Glu Mobile as of its latest document with the Securities & Exchange Commission.

Hedge funds and other institutional investors have recently modified their holdings of the business.

Investors are more bullish on shares of Glu Mobile Inc.at least if you consider the motion in short interest. Northern Right Capital Management grew its stake in Glu Mobile by 109.9% in the Fiscal Q2. The stock has been active on the tape, now trading at $3.70, down from yesterday's close by -1.86%.

The top 5 institutional holders, in ascending order, are as follows: BLACKROCK INC. with 6.71 million shares, VANGUARD GROUP INC with 4.51 million shares, PRECEPT MANAGEMENT LLC with 4.14 million shares, RENAISSANCE TECHNOLOGIES LLC with 3.55 million shares, and ARIEL INVESTMENTS, LLC with 2.89 million shares. Finally, Engineers Gate Manager LP increased its holdings in shares of Glu Mobile by 214.6% in the 2nd quarter. Engineers Gate Manager LP now owns 583,115 shares of the company's stock worth $1,458,000 after buying an additional 397,771 shares during the last quarter. (GLUU) is a number of factors, including perhaps, a steady decrease of the profile of the company as insider activity takes center stage. Zacks Investment Research lowered Glu Mobile from a "buy" rating to a "hold" rating in a research report on Wednesday.

08/01/2017 - Glu Mobile Inc. had its "hold" rating reiterated by analysts at Canaccord Genuity. Stifel Nicolaus maintained the stock with "Buy" rating in Monday, July 10 report. Finally, Roth Capital set a $4.00 target price on Glu Mobile and gave the stock a "buy" rating in a report on Thursday, August 17th. Recently, investment analysts covering the stock have updated the mean rating to 2.7. Glu Mobile Inc. earnings have declined with an annualized rate of -12.6% over the last 5 years. The stock exchanged hands 2.47 Million shares versus average trading capacity of 3.07 Million shares, yielding a market cap of $493.06 Million. 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. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The current price is seen ranging between $3.64 and $3.71. Following the completion of the transaction, the chief operating officer now directly owns 68,250 shares of the company's stock, valued at approximately $212,940. The disclosure for this sale can be found here. 3 have given the stock a Hold rating, 0 as Underperform and 0 as Sell. Executives own 5.60% of the firms stock.

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In other Glu Mobile news, COO Eric R. Ludwig sold 100,000 shares of the company's stock in a transaction dated Monday, October 2nd. Now the stock price is moving -3.13% off from the highest level of twelve months and 114.45% above from twelve months low.

Glu Mobile (GLUU) traded up 1.35% on Thursday, reaching $3.76. Increasing profits are the best indication that a company can pay dividends and that the share price will trend upward.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Glu Mobile Inc (NASDAQ:GLUU) high price target of $4.75 and with a conservative view have low price target of $2.24. The company had Year Ago Sales of 51.28 Million.



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