Zynga Inc. (ZNGA) Sees Large Decrease in Short Interest
Zynga Inc. (NASDAQ:ZNGA) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 16,087,228 shares, a drop of 8.2% from the August 15th total of 17,523,171 shares. Based on an average daily trading volume, of 6,459,671 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.1% of the company’s shares are sold short.
In related news, Director Ellen F. Siminoff sold 12,000 shares of Zynga 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 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 Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 36,000 shares of company stock valued at $132,360 in the last quarter. 12.43% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. World Asset Management Inc lifted its position in shares of Zynga by 0.4% during 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 in the last quarter. Clinton Group Inc. lifted its position in shares of Zynga by 0.7% during the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock worth $174,000 after purchasing an additional 423 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Zynga by 0.4% during the second quarter. Public Employees Retirement Association of Colorado now owns 184,005 shares of the company’s stock worth $670,000 after purchasing an additional 820 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Zynga by 2.8% during the first quarter. Principal Financial Group Inc. now owns 92,862 shares of the company’s stock worth $265,000 after purchasing an additional 2,540 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Zynga by 4.9% during the second quarter. Teacher Retirement System of Texas now owns 63,571 shares of the company’s stock worth $231,000 after purchasing an additional 2,941 shares in the last quarter. 68.19% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on ZNGA. Mizuho reiterated a “buy” rating and set a $4.20 price objective (up previously from $3.50) on shares of Zynga in a report on Saturday, June 3rd. Benchmark Co. reiterated a “buy” rating and set a $4.35 price objective (up previously from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Cowen and Company lifted their price objective on shares of Zynga from $4.25 to $4.50 and gave the company an “outperform” rating in a report on Friday, June 23rd. Wedbush reiterated an “outperform” rating and set a $4.65 price objective (up previously from $4.25) on shares of Zynga in a report on Wednesday, August 9th. Finally, Morgan Stanley upgraded shares of Zynga from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $3.00 to $4.50 in a report on Thursday, June 8th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $4.06.
Zynga (ZNGA) opened at 3.88 on Wednesday. The firm’s 50-day moving average is $3.68 and its 200-day moving average is $3.37. Zynga has a 52-week low of $2.40 and a 52-week high of $4.02. The stock’s market cap is $3.36 billion.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The business 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% compared to the same quarter last year. Equities research analysts predict that Zynga will post $0.10 earnings per share 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.
Receive News & Stock Ratings for Zynga Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga Inc. and related stocks with our FREE daily email newsletter.