Bank of New York Mellon Corp Lowers Stake in Glu Mobile Inc. (GLUU)

Bank of New York Mellon Corp cut its holdings in Glu Mobile Inc. (NASDAQ:GLUU) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 471,537 shares of the company’s stock after selling 20,934 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.35% of Glu Mobile worth $1,772,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Northern Right Capital Management L.P. boosted its position in Glu Mobile by 109.9% during the second quarter. Northern Right Capital Management L.P. now owns 2,759,786 shares of the company’s stock worth $6,899,000 after acquiring an additional 1,444,816 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in Glu Mobile during the second quarter worth approximately $1,721,000. ETF Managers Group LLC acquired a new stake in Glu Mobile during the second quarter worth approximately $1,099,000. Engineers Gate Manager LP boosted its position in Glu Mobile by 214.6% during the second quarter. Engineers Gate Manager LP now owns 583,115 shares of the company’s stock worth $1,458,000 after acquiring an additional 397,771 shares during the last quarter. Finally, Lyon Street Capital LLC acquired a new stake in Glu Mobile during the second quarter worth approximately $563,000. Institutional investors and hedge funds own 35.54% of the company’s stock.

In other news, COO Eric R. Ludwig sold 33,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $3.90, for a total value of $128,700.00. Following the transaction, the chief operating officer now owns 72,000 shares of the company’s stock, valued at approximately $280,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Masi Niccolo De sold 131,966 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.70, for a total transaction of $488,274.20. Following the completion of the transaction, the insider now directly owns 512,859 shares in the company, valued at approximately $1,897,578.30. The disclosure for this sale can be found here. In the last three months, insiders sold 936,422 shares of company stock worth $4,093,391. Insiders own 5.60% of the company’s stock.

Glu Mobile Inc. (NASDAQ:GLUU) opened at $3.62 on Wednesday. The firm has a market cap of $496.06, a price-to-earnings ratio of -6.46 and a beta of 1.72. Glu Mobile Inc. has a 1-year low of $1.85 and a 1-year high of $4.95. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.03.

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

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Roth Capital reiterated a “buy” rating and issued a $4.75 price target (up previously from $4.00) on shares of Glu Mobile in a report on Monday, September 18th. Canaccord Genuity reiterated a “hold” rating and issued a $3.00 price target on shares of Glu Mobile in a report on Monday, October 30th. Wedbush set a $5.00 price target on shares of Glu Mobile and gave the company a “hold” rating in a report on Wednesday, October 18th. Finally, ValuEngine lowered shares of Glu Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Glu Mobile currently has an average rating of “Hold” and an average target price of $3.97.

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Glu Mobile Company 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.

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

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