Zynga Inc. (ZNGA) Sees Large Increase in Short Interest
Zynga Inc. (NASDAQ:ZNGA) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 22,488,191 shares, a growth of 19.2% from the August 31st total of 18,863,929 shares. Based on an average daily trading volume, of 17,425,521 shares, the short-interest ratio is presently 1.3 days. Approximately 3.0% of the company’s stock are short sold.
In other news, General Counsel Devang Shah sold 12,251 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $2.64, for a total value of $32,342.64. Following the completion of the sale, the general counsel now directly owns 52,356 shares of the company’s stock, valued at $138,219.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.60% of the company’s stock.
Several large investors have recently modified their holdings of ZNGA. Penserra Capital Management LLC increased its position in shares of Zynga by 3.5% in the second quarter. Penserra Capital Management LLC now owns 49,442 shares of the company’s stock valued at $123,000 after buying an additional 1,656 shares during the period. Sterling Capital Management LLC bought a new position in shares of Zynga during the second quarter valued at about $124,000. Jefferies Group LLC bought a new position in shares of Zynga during the second quarter valued at about $130,000. Point72 Asia Hong Kong Ltd bought a new position in shares of Zynga during the second quarter valued at about $160,000. Finally, Legal & General Group Plc increased its position in shares of Zynga by 75.2% in the second quarter. Legal & General Group Plc now owns 71,503 shares of the company’s stock valued at $178,000 after buying an additional 30,687 shares during the period. Institutional investors and hedge funds own 59.36% of the company’s stock.
Shares of Zynga (NASDAQ:ZNGA) opened at 2.89 on Wednesday. Zynga has a one year low of $1.78 and a one year high of $3.02. The stock’s 50 day moving average price is $2.78 and its 200 day moving average price is $2.62. The stock’s market capitalization is $2.55 billion.
A number of research analysts have recently weighed in on the company. Robert W. Baird restated a “neutral” rating and issued a $3.00 price target on shares of Zynga in a report on Saturday, August 6th. TheStreet upgraded Zynga from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Pacific Crest restated a “hold” rating on shares of Zynga in a report on Friday, August 5th. FBR & Co restated an “outperform” rating and issued a $4.25 price target on shares of Zynga in a report on Tuesday, September 13th. Finally, Jefferies Group restated a “buy” rating on shares of Zynga in a report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Zynga presently has an average rating of “Hold” and an average price target of $3.17.
Zynga Company Profile
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) and Android and social networking sites, such as Facebook. The Company operates through developing and monetizing social games segment.
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