Insider Stock Sale at Glu Mobile Inc. (GLUU): CFO Eric Ludwig Unloads 169,362 Shares

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Eric Ludwig, Executive Vice President and Chief Financial Officer at Glu Mobile Inc. (NASDAQ:GLUU), sold 169,362 shares of Common Stock this week. The sale was executed over three days, commencing on Tuesday, when the insider unloaded 49,062 shares of Common Stock for a weighted average sales price of $5.27 per share. 19,500 shares were then sold on Wednesday for a price of $5.26, before disposing of the remaining 100,800 shares yesterday, for a weighted average price of $5.33 per share. Furthermore, Ludwig also exercised his use of stock options for his first transaction of this quarter.

However, while Glu Mobile’s CFO has been keen on unloading stock, last quarter showed the contrary amongst shareholding hedge funds. Jim Simons’ Renaissance Technologies entered a new shareholder position in March, by acquiring 927,759 company shares, worth approximately $4.39 million. Meanwhile, Israel Englander’s hedge fund, Millennium Management, increased its stakes in the firm by 252% during Q1, boosting its shares up to 1.77 million, with an estimated value of $8.39 million.

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