Eric R. Ludwig Sells 160,000 Shares of Glu Mobile Inc. (GLUU) Stock

Glu Mobile Inc. (NASDAQ:GLUU) COO Eric R. Ludwig sold 160,000 shares of Glu Mobile stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $3.67, for a total value of $587,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a report on Thursday, October 5th. Roth Capital restated a “buy” rating and set a $4.75 target price (up previously from $4.00) on shares of Glu Mobile in a research report on Monday, September 18th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Glu Mobile in a research report on Thursday, September 7th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $3.19.

Several large investors have recently bought and sold shares of GLUU. Nationwide Fund Advisors increased its position in Glu Mobile by 69.2% during the first quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock worth $334,000 after purchasing an additional 60,168 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Glu Mobile by 163.9% in the first quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock worth $303,000 after acquiring an additional 83,002 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Glu Mobile by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 491,866 shares of the company’s stock worth $1,116,000 after acquiring an additional 15,866 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Glu Mobile by 140.8% in the first quarter. UBS Asset Management Americas Inc. now owns 73,207 shares of the company’s stock worth $166,000 after acquiring an additional 42,800 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of Glu Mobile in the first quarter valued at $184,000. 35.14% of the stock is owned by institutional investors and hedge funds.

About Glu Mobile

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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