Chris Akhavan Sells 379,932 Shares of Glu Mobile Inc. (NASDAQ:GLUU) Stock

Glu Mobile Inc. (NASDAQ:GLUU) SVP Chris Akhavan sold 379,932 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $6.86, for a total value of $2,606,333.52. Following the transaction, the senior vice president now directly owns 120,530 shares in the company, valued at $826,835.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of Glu Mobile stock opened at $7.22 on Friday. Glu Mobile Inc. has a 1-year low of $4.11 and a 1-year high of $11.75. The company’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $5.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 1.32. The stock has a market capitalization of $1.05 billion, a PE ratio of 120.35, a P/E/G ratio of 4.13 and a beta of 1.11.

Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Glu Mobile had a return on equity of 5.63% and a net margin of 2.16%. The firm had revenue of $108.40 million during the quarter, compared to analyst estimates of $103.64 million. During the same period in the prior year, the business posted ($0.01) EPS. Glu Mobile’s revenue was up 10.4% on a year-over-year basis. As a group, research analysts anticipate that Glu Mobile Inc. will post 0.11 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in GLUU. DNB Asset Management AS bought a new position in shares of Glu Mobile in the third quarter worth about $17,010,000. State Street Corp grew its stake in shares of Glu Mobile by 35.9% during the 4th quarter. State Street Corp now owns 3,591,297 shares of the company’s stock valued at $21,727,000 after acquiring an additional 948,214 shares during the period. Principal Financial Group Inc. grew its stake in shares of Glu Mobile by 4,811.3% during the 4th quarter. Principal Financial Group Inc. now owns 925,925 shares of the company’s stock valued at $5,602,000 after acquiring an additional 907,072 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Glu Mobile by 174.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,171,286 shares of the company’s stock valued at $7,086,000 after acquiring an additional 744,994 shares during the period. Finally, Raging Capital Management LLC purchased a new stake in Glu Mobile in the 3rd quarter worth approximately $2,562,000. 64.03% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on GLUU shares. SunTrust Banks assumed coverage on Glu Mobile in a research note on Monday, January 6th. They issued a “buy” rating and a $7.50 price target on the stock. Stephens cut Glu Mobile from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 8th. BidaskClub raised Glu Mobile from a “sell” rating to a “hold” rating in a report on Thursday, January 16th. Wedbush reissued a “buy” rating and issued a $7.50 target price on shares of Glu Mobile in a report on Thursday, February 6th. Finally, Morgan Stanley reissued a “buy” rating and issued a $8.00 target price on shares of Glu Mobile in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $7.58.

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 primarily in four genres, including home d├ęcor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.

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