Legal & General Group Plc Boosts Stake in Zynga Inc. (ZNGA)
Legal & General Group Plc lifted its position in shares of Zynga Inc. (NASDAQ:ZNGA) by 454.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,414,781 shares of the company’s stock after buying an additional 1,159,405 shares during the quarter. Legal & General Group Plc owned about 0.16% of Zynga worth $5,110,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of ZNGA. World Asset Management Inc increased its position in shares of Zynga by 0.4% in the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock worth $101,000 after purchasing an additional 98 shares during the period. Princeton Portfolio Strategies Group LLC grew its position in Zynga by 43.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock valued at $102,000 after acquiring an additional 10,900 shares during the last quarter. HighTower Advisors LLC bought a new position in Zynga in the first quarter valued at about $116,000. Clinton Group Inc. grew its position in Zynga by 0.7% in the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock valued at $174,000 after acquiring an additional 423 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Zynga by 11.7% in the first quarter. PNC Financial Services Group Inc. now owns 71,889 shares of the company’s stock valued at $205,000 after acquiring an additional 7,535 shares during the last quarter. 68.19% of the stock is owned by institutional investors.
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In other news, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $3.62, for a total transaction of $43,440.00. Following the completion of the sale, the director now owns 158,478 shares in the company, valued at approximately $573,690.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 36,000 shares of company stock valued at $132,360. Company insiders own 12.43% of the company’s stock.
Zynga Inc. (ZNGA) opened at 3.68 on Friday. The stock’s market cap is $3.18 billion. The stock has a 50 day moving average price of $3.66 and a 200-day moving average price of $3.30. Zynga Inc. has a 1-year low of $2.40 and a 1-year high of $3.86.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $209.20 million for the quarter, compared to analysts’ expectations of $201.64 million. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts expect that Zynga Inc. will post $0.09 EPS for the current year.
A number of research analysts have issued reports on the company. Wedbush reiterated an “outperform” rating on shares of Zynga in a research report on Friday, May 19th. Mizuho reaffirmed a “buy” rating and issued a $4.20 price objective (up from $3.50) on shares of Zynga in a research note on Saturday, June 3rd. Canaccord Genuity reaffirmed a “hold” rating and issued a $3.00 price objective on shares of Zynga in a research note on Monday, May 15th. Benchmark Co. reaffirmed a “buy” rating and issued a $4.35 price objective (up from $3.65) on shares of Zynga in a research note on Wednesday, August 9th. Finally, Cowen and Company reissued an “outperform” rating and issued a $3.50 price target on shares of Zynga in a research note on Monday, May 15th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $4.00.
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) 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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