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Glu Mobile Inc. Buyback

OLI recorded this information on 1/11/2016

Company: Glu Mobile Inc.
Buyback: GLUU buyback
$Amount Authorized: $50,000,000
Buyback Details: Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, today announced that its Board of Directors plans to adopt a stock repurchase program under which the company may repurchase up to $50 million of its outstanding common stock. The company expects to implement the repurchase program during its next open trading window that is currently scheduled to open following its upcoming February 3, 2016 earnings call.

Glu Mobile develops, publishes and markets a portfolio of mobile games designed to appeal to users who download and make purchases within Co.'s games through direct-to-consumer digital storefronts, such as the Apple App Store, Google Play store, and others. Co. creates games based on its own original brands, as well as third-party licensed brands, properties and other content. Co. sells virtual currency to consumers. In addition to in-app purchases of virtual currency, Co. also monetizes its games through offers and in-game advertising. Offers enable users to acquire virtual currency without paying cash but by instead taking specified actions such as downloading another application.

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Company Name: 
Glu Mobile Inc
Stock buyback: 
GLUU buyback
Website: 
www.glu.com
Sector: 
Application Software
Number of ETFs Holding GLUU: 
39
Total Market Value Held by ETFs: 
$195.70M
Total Market Capitalization: 
$1.27B
% of Market Cap. Held by ETFs: 
15.46%
 

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Strong Buy (3.50 out of 4)
64th percentile
(ranked higher than approx. 64% of all stocks covered)
Based on Zacks ABR data;
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