Glu Mobile (NASDAQ:GLUU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “GLU MOBILE INC., is a leading global publisher of mobile games. Its portfolio of top-rated games includes original titles Super K.O. Boxing!, Stranded and Brain Genius, and titles based on major brands from partners including Atari, Activision, Konami, Harrah’s, Hasbro, Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony. Glu is based in San Mateo, Calif. and has offices in London, France, Germany, Spain, Italy, Sweden, Poland, Russia, Hong Kong, China, Brazil, Chile, Canada and San Clemente, Calif. “
Several other brokerages have also recently commented on GLUU. ValuEngine raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research report on Monday, December 11th. Wedbush set a $5.00 price target on shares of Glu Mobile and gave the stock a “hold” rating in a research report on Wednesday, October 18th. BidaskClub raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Stifel Nicolaus reissued a “buy” rating and set a $4.50 price target (up from $3.30) on shares of Glu Mobile in a research report on Tuesday, October 31st. Finally, Canaccord Genuity reissued a “hold” rating and set a $3.00 price target on shares of Glu Mobile in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $4.01.
Several institutional investors have recently added to or reduced their stakes in GLUU. Alliancebernstein L.P. increased its stake in shares of Glu Mobile by 114.1% during the 2nd quarter. Alliancebernstein L.P. now owns 191,000 shares of the company’s stock worth $478,000 after purchasing an additional 101,800 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Glu Mobile during the 2nd quarter worth about $370,000. Northern Trust Corp increased its stake in shares of Glu Mobile by 1.8% during the 2nd quarter. Northern Trust Corp now owns 1,142,605 shares of the company’s stock worth $2,857,000 after purchasing an additional 20,300 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Glu Mobile by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 812,300 shares of the company’s stock worth $2,031,000 after purchasing an additional 17,600 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Glu Mobile by 106.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 167,454 shares of the company’s stock worth $419,000 after purchasing an additional 86,388 shares during the last quarter. Institutional investors own 35.63% of the company’s stock.
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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.
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