Handelsinvest Investeringsforvaltning acquired a new stake in Glu Mobile Inc. (NASDAQ:GLUU) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 200,000 shares of the company’s stock, valued at approximately $1,282,000. Handelsinvest Investeringsforvaltning owned approximately 0.14% of Glu Mobile at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC bought a new stake in shares of Glu Mobile in the 2nd quarter valued at approximately $190,000. Bank of New York Mellon Corp grew its stake in Glu Mobile by 34.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 650,254 shares of the company’s stock worth $4,168,000 after buying an additional 165,118 shares during the last quarter. Mackay Shields LLC bought a new position in Glu Mobile during the 2nd quarter worth $1,402,000. EAM Global Investors LLC bought a new position in Glu Mobile during the 2nd quarter worth $1,370,000. Finally, EAM Investors LLC bought a new position in Glu Mobile during the 2nd quarter worth $4,262,000. 51.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of GLUU opened at $6.75 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.03. Glu Mobile Inc. has a 12 month low of $3.02 and a 12 month high of $6.89.
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 Zacks’ consensus estimate of $0.05 by ($0.08). The company had revenue of $90.20 million for the quarter, compared to the consensus estimate of $91.56 million. Glu Mobile had a negative return on equity of 26.30% and a negative net margin of 18.88%. Glu Mobile’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) earnings per share. analysts forecast that Glu Mobile Inc. will post 0.08 EPS for the current year.
In other Glu Mobile news, VP Gordon S. Lee sold 72,006 shares of the business’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $5.62, for a total transaction of $404,673.72. Following the completion of the transaction, the vice president now owns 72,006 shares in the company, valued at approximately $404,673.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric R. Ball sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $6.46, for a total value of $161,500.00. Following the transaction, the director now owns 75,000 shares of the company’s stock, valued at approximately $484,500. The disclosure for this sale can be found here. Insiders have sold a total of 1,205,963 shares of company stock valued at $7,333,391 in the last quarter. 5.80% of the stock is currently owned by insiders.
A number of research analysts recently commented on GLUU shares. Stifel Nicolaus upped their price objective on Glu Mobile from $4.75 to $5.00 and gave the stock a “buy” rating in a research note on Monday, April 30th. BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 1st. ValuEngine upgraded Glu Mobile from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Benchmark upped their price objective on Glu Mobile from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded Glu Mobile from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Glu Mobile has an average rating of “Buy” and an average price target of $6.14.
About Glu Mobile
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 décor, 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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