TIAA CREF Investment Management LLC decreased its position in Glu Mobile Inc. (NASDAQ:GLUU) by 29.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,289 shares of the company’s stock after selling 122,612 shares during the quarter. TIAA CREF Investment Management LLC owned 0.22% of Glu Mobile worth $733,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of GLUU. Engineers Gate Manager LP grew its position in Glu Mobile by 214.6% in the second quarter. Engineers Gate Manager LP now owns 583,115 shares of the company’s stock valued at $1,458,000 after acquiring an additional 397,771 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Glu Mobile in the first quarter valued at approximately $877,000. Vanguard Group Inc. grew its position in Glu Mobile by 8.0% in the first quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock valued at $10,595,000 after acquiring an additional 344,727 shares in the last quarter. Morgan Stanley grew its position in Glu Mobile by 40.5% in the first quarter. Morgan Stanley now owns 713,836 shares of the company’s stock valued at $1,620,000 after acquiring an additional 205,918 shares in the last quarter. Finally, Global X Management Co. LLC acquired a new stake in Glu Mobile in the second quarter valued at approximately $291,000. 35.48% of the stock is owned by institutional investors.
Shares of Glu Mobile Inc. (GLUU) opened at $3.97 on Wednesday. Glu Mobile Inc. has a 1 year low of $1.85 and a 1 year high of $4.73. 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 (NASDAQ:GLUU) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative return on equity of 35.19% and a negative net margin of 29.74%. The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.67 million. During the same quarter last year, the business earned ($0.33) earnings per share. The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. analysts forecast that Glu Mobile Inc. will post -0.18 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on GLUU. Stifel Nicolaus reissued a “buy” rating and set a $4.50 price target (up previously from $3.30) on shares of Glu Mobile in a research report on Tuesday, October 31st. 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. 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. Zacks Investment Research raised shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a research report on Thursday, October 5th. Finally, Roth Capital reissued a “buy” rating and set a $4.75 price target (up previously from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $3.97.
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In related news, COO Eric R. Ludwig sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $3.43, for a total transaction of $85,750.00. Following the transaction, the chief operating officer now directly owns 82,000 shares in the company, valued at $281,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eric R. Ludwig sold 100,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $3.75, for a total value of $375,000.00. The disclosure for this sale can be found here. Insiders have sold 1,183,422 shares of company stock worth $4,992,941 over the last 90 days. 5.60% of the stock is currently owned by company insiders.
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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