Short Interest in Zynga Inc. (ZNGA) Increases By 49.0%
Zynga Inc. (NASDAQ:ZNGA) was the recipient of a large increase in short interest during the month of September. As of September 29th, there was short interest totalling 18,094,577 shares, an increase of 49.0% from the September 15th total of 12,143,691 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average trading volume of 11,974,803 shares, the days-to-cover ratio is presently 1.5 days.
In other news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $3.62, for a total transaction of $43,440.00. Following the transaction, the director now owns 158,478 shares of the company’s stock, valued at approximately $573,690.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 36,000 shares of company stock worth $134,160. Corporate insiders own 12.43% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ZNGA. Nationwide Fund Advisors lifted its position in Zynga by 49.5% during the 1st quarter. Nationwide Fund Advisors now owns 311,912 shares of the company’s stock worth $889,000 after acquiring an additional 103,210 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Zynga by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,542,644 shares of the company’s stock worth $7,247,000 after acquiring an additional 87,300 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Zynga by 15.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 448,393 shares of the company’s stock worth $1,278,000 after acquiring an additional 60,954 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in Zynga by 23.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,354,247 shares of the company’s stock worth $3,860,000 after acquiring an additional 254,417 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Zynga by 30.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,920,995 shares of the company’s stock worth $11,175,000 after acquiring an additional 926,648 shares in the last quarter. 68.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zynga (NASDAQ:ZNGA) opened at 3.70 on Thursday. The stock’s market capitalization is $3.20 billion. Zynga has a 52 week low of $2.40 and a 52 week high of $4.02. The firm’s 50-day moving average is $3.75 and its 200-day moving average is $3.48.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $209.20 million for the quarter, compared to analyst estimates of $201.64 million. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. Zynga’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts anticipate that Zynga will post $0.10 EPS for the current fiscal year.
Several research analysts have recently weighed in on ZNGA shares. Piper Jaffray Companies set a $4.00 price target on shares of Zynga and gave the company a “buy” rating in a research report on Thursday, August 3rd. BidaskClub raised shares of Zynga from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research report on Thursday, August 10th. Benchmark Co. reaffirmed a “buy” rating and issued a $4.35 target price (up previously from $3.65) on shares of Zynga in a research report on Wednesday, August 9th. Finally, 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 research report on Thursday, August 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $4.06.
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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