NEW YORK (TheStreet) -- Glu Mobile
(GLUU - Get Report) shares are down -9.2% to $6.26 in pre-market trading after being downgraded to "hold" from "buy" by analysts at Benchmark, who lowered their price target to $6.74 from $7.93 on Tuesday.
The downgrade comes as analysst see the momentum for the mobile gaming company's smash hit Kim Kardashian: Hollywood slowing down in the second half of the year as well as dilution from the company's recent acquisition of Cie Games for $100 million.
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Separately, TheStreet Ratings team rates GLU MOBILE INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:"We rate GLU MOBILE INC (GLUU) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The area that we feel has been the company's primary weakness has been its disappointing return on equity."
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