One stock whose insiders are doing some notable buying is Glu Mobile (GLUU), which designs, markets and sells mobile games. Insiders are buying shares of Glu Mobile into strength since this stock is up over 55% in 2011.
Glu Mobile has a market cap of $208.93 million and an enterprise value of $172.52 million. This stock trades at a price-to-sales of 3.14 and a price-to-book of 3.60. Its estimated growth rate for this year is -87.5%, and for next year it's pegged at -33.3%. This is a cash-rich company, with a total cash position on its balance sheet of $37.05 million and total debt of zero.A director just bought 183,958 shares, or about $550,000 worth of stock, at $2.99 per share. This same director also just bought 447,097 shares, or about $1.3 million worth of stock, at $3 per share. >>6 Stocks Endowments Are Bullish On From a technical standpoint, GLUU is currently trading above its 50-day moving average and below its 200-day moving average, which is neutral trendwise. This stock has been trading within a sideways trading pattern for the last couple of months, between $3.80 and $2.55. A sustained move outside of that range should setup the next big trend for this stock. If you're bullish on GLUU, I would consider buying some shares once the stock can manage to move above some near-term overhead resistance at $3.39 to $3.50 a share on high volume. Look for volume that's running close to or above its three-month average action of 1.6 million shares. If we see that action, I would then add to any long positions once GLUU takes out its 200-day of $3.77 and $3.81 a share with heavy volume. I would simply use a stop that's right below the 50-day at $3.16, in case GLUU isn't ready to break out above the upper end of its range.
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