Zynga Inc. (ZNGA) Short Interest Update
Zynga Inc. (NASDAQ:ZNGA) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 16,087,228 shares, a decline of 8.2% from the August 15th total of 17,523,171 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average trading volume of 6,459,671 shares, the short-interest ratio is presently 2.5 days.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $3.62, for a total value of $43,440.00. Following the completion of the sale, the director now directly owns 158,478 shares of the company’s stock, valued at $573,690.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 36,000 shares of company stock valued at $132,360. 12.43% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Zynga by 5,061.5% in the 1st quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock valued at $102,420,000 after purchasing an additional 35,240,491 shares during the last quarter. Two Sigma Securities LLC lifted its position in Zynga by 103.1% in the 1st quarter. Two Sigma Securities LLC now owns 101,074 shares of the company’s stock valued at $288,000 after purchasing an additional 51,299 shares during the last quarter. Morgan Stanley lifted its position in Zynga by 30.4% in the 1st quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock valued at $78,186,000 after purchasing an additional 6,397,949 shares during the last quarter. UBS Group AG lifted its position in Zynga by 1.2% in the 1st quarter. UBS Group AG now owns 9,532,580 shares of the company’s stock valued at $27,168,000 after purchasing an additional 112,230 shares during the last quarter. Finally, Princeton Portfolio Strategies Group LLC lifted its position in Zynga by 43.6% in the 1st quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock valued at $102,000 after purchasing an additional 10,900 shares during the last quarter. Hedge funds and other institutional investors own 68.19% of the company’s stock.
ZNGA has been the subject of a number of research reports. Canaccord Genuity upped their target price on shares of Zynga from $3.00 to $3.50 and gave the company a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Zynga from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Wedbush upped their target price on shares of Zynga from $4.25 to $4.65 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Benchmark Co. reaffirmed a “buy” rating and issued a $4.35 target price (up from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $4.00 target price on shares of Zynga and gave the company a “buy” rating in a report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $3.98.
Zynga (ZNGA) opened at 3.77 on Friday. Zynga has a 52 week low of $2.40 and a 52 week high of $3.91. The stock’s 50 day moving average is $3.66 and its 200-day moving average is $3.33. The firm’s market capitalization is $3.26 billion.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $209.20 million during the quarter, compared to the consensus estimate of $201.64 million. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts expect that Zynga will post $0.10 EPS for the current year.
Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.
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