Nordea Investment Management AB Decreases Stock Position in Glu Mobile Inc. (NASDAQ:GLUU)

Nordea Investment Management AB cut its position in shares of Glu Mobile Inc. (NASDAQ:GLUU) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 627,251 shares of the company’s stock after selling 5,613 shares during the quarter. Nordea Investment Management AB owned 0.43% of Glu Mobile worth $6,863,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. grew its position in shares of Glu Mobile by 2.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 883,547 shares of the company’s stock valued at $9,666,000 after buying an additional 24,260 shares during the last quarter. MYDA Advisors LLC bought a new stake in shares of Glu Mobile in the 1st quarter valued at about $459,000. Qtron Investments LLC bought a new stake in shares of Glu Mobile in the 1st quarter valued at about $182,000. Meitav Dash Investments Ltd. bought a new stake in shares of Glu Mobile in the 1st quarter valued at about $239,000. Finally, Campbell & CO Investment Adviser LLC lifted its stake in shares of Glu Mobile by 45.7% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 36,557 shares of the company’s stock valued at $400,000 after purchasing an additional 11,472 shares during the period. Institutional investors and hedge funds own 57.67% of the company’s stock.

In related news, insider Masi Niccolo De sold 90,714 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $10.75, for a total value of $975,175.50. Following the sale, the insider now owns 770,065 shares in the company, valued at $8,278,198.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greg Brandeau sold 4,166 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $7.10, for a total value of $29,578.60. Following the sale, the director now owns 41,664 shares in the company, valued at approximately $295,814.40. The disclosure for this sale can be found here. Insiders sold 7,358,778 shares of company stock worth $57,297,920 in the last quarter. 6.84% of the stock is currently owned by company insiders.

Shares of GLUU stock traded up $0.05 during trading on Friday, hitting $7.33. The company’s stock had a trading volume of 1,256,827 shares, compared to its average volume of 1,987,599. The business’s fifty day moving average is $7.43. Glu Mobile Inc. has a 52 week low of $5.08 and a 52 week high of $11.75. The company has a market cap of $1.06 billion, a P/E ratio of -91.63, a PEG ratio of 2.60 and a beta of 0.80. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Glu Mobile had a negative return on equity of 0.92% and a negative net margin of 1.40%. The business had revenue of $92.60 million during the quarter, compared to analyst estimates of $89.74 million. During the same period in the prior year, the company earned ($0.05) earnings per share. Glu Mobile’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts expect that Glu Mobile Inc. will post 0.19 EPS for the current fiscal year.

GLUU has been the topic of a number of recent analyst reports. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Piper Jaffray Companies reissued an “overweight” rating and issued a $435.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Tuesday, May 7th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Stephens set a $12.00 price objective on Glu Mobile and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Wedbush set a $17.00 target price on Zumiez and gave the company a “sell” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.92.

Glu Mobile Profile

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

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