Glu Mobile Inc. (GLUU) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 371.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 696,400 shares of the company’s stock after purchasing an additional 548,600 shares during the quarter. Ameriprise Financial Inc. owned 0.51% of Glu Mobile worth $2,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in shares of Glu Mobile by 16.1% in the third quarter. Russell Investments Group Ltd. now owns 155,219 shares of the company’s stock worth $583,000 after buying an additional 21,569 shares during the last quarter. Global X MANAGEMENT CO LLC boosted its stake in shares of Glu Mobile by 16.1% in the third quarter. Global X MANAGEMENT CO LLC now owns 135,172 shares of the company’s stock worth $508,000 after buying an additional 18,704 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in shares of Glu Mobile in the second quarter worth about $592,000. State Street Corp boosted its stake in shares of Glu Mobile by 6.7% in the second quarter. State Street Corp now owns 1,914,877 shares of the company’s stock worth $4,791,000 after buying an additional 120,550 shares during the last quarter. Finally, ETF Managers Group LLC purchased a new stake in shares of Glu Mobile in the second quarter worth about $1,099,000. Institutional investors and hedge funds own 35.54% of the company’s stock.

In other Glu Mobile news, COO Eric R. Ludwig sold 33,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $3.90, for a total transaction of $128,700.00. Following the completion of the transaction, the chief operating officer now owns 72,000 shares of the company’s stock, valued at $280,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Eric R. Ludwig sold 160,000 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $3.67, for a total value of $587,200.00. The disclosure for this sale can be found here. Insiders have sold 1,096,422 shares of company stock worth $4,680,591 in the last quarter. 5.60% of the stock is currently owned by company insiders.

A number of analysts have recently commented on the company. BidaskClub downgraded Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. ValuEngine downgraded Glu Mobile from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Stifel Nicolaus restated a “buy” rating and issued a $4.50 target price (up previously from $3.30) on shares of Glu Mobile in a research note on Tuesday, October 31st. Finally, Canaccord Genuity restated a “hold” rating and issued a $3.00 target price on shares of Glu Mobile in a research note 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 given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $3.97.

Glu Mobile Inc. (NASDAQ GLUU) opened at $3.67 on Friday. The stock has a market capitalization of $502.92, a P/E ratio of -6.55 and a beta of 1.72. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03. Glu Mobile Inc. has a 1 year low of $1.85 and a 1 year high of $4.95.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.67 million. Glu Mobile had a negative return on equity of 35.19% and a negative net margin of 29.74%. The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.33) EPS. equities analysts forecast that Glu Mobile Inc. will post -0.18 EPS for the current fiscal year.

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Glu Mobile 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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Institutional Ownership by Quarter for Glu Mobile (NASDAQ:GLUU)

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