Short Interest in Zynga Inc (ZNGA) Declines By 34.3%

Zynga Inc (NASDAQ:ZNGA) was the recipient of a large decline in short interest in the month of December. As of December 29th, there was short interest totalling 12,200,625 shares, a decline of 34.3% from the December 15th total of 18,567,964 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily volume of 6,908,904 shares, the days-to-cover ratio is currently 1.8 days.

Shares of Zynga (NASDAQ:ZNGA) opened at $3.97 on Tuesday. The firm has a market capitalization of $3,460.00, a price-to-earnings ratio of -132.33, a price-to-earnings-growth ratio of 2.92 and a beta of 0.76. Zynga has a 1 year low of $2.40 and a 1 year high of $4.34.

Zynga (NASDAQ:ZNGA) last issued its earnings results on Tuesday, November 7th. The company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $224.60 million during the quarter, compared to analyst estimates of $211.98 million. Zynga had a negative return on equity of 1.37% and a negative net margin of 2.65%. Zynga’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. equities analysts predict that Zynga will post 0.02 EPS for the current year.

In other news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $3.86, for a total value of $46,320.00. Following the completion of the transaction, the director now owns 139,900 shares in the company, valued at approximately $540,014. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Matthew S. Bromberg sold 50,000 shares of Zynga stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $3.95, for a total value of $197,500.00. Following the completion of the transaction, the chief operating officer now owns 294,206 shares of the company’s stock, valued at approximately $1,162,113.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,000 shares of company stock valued at $930,600. Company insiders own 12.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ZNGA. Alyeska Investment Group L.P. raised its position in Zynga by 453.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 7,107,304 shares of the company’s stock valued at $26,866,000 after purchasing an additional 5,822,916 shares in the last quarter. Renaissance Technologies LLC raised its position in Zynga by 33.4% during the 2nd quarter. Renaissance Technologies LLC now owns 23,009,600 shares of the company’s stock valued at $83,755,000 after purchasing an additional 5,759,000 shares in the last quarter. Telemark Asset Management LLC bought a new stake in Zynga during the 3rd quarter valued at $18,900,000. River & Mercantile Asset Management LLP raised its position in Zynga by 126.3% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 7,707,049 shares of the company’s stock valued at $29,171,000 after purchasing an additional 4,301,645 shares in the last quarter. Finally, First Quadrant L P CA raised its position in Zynga by 164.3% during the 3rd quarter. First Quadrant L P CA now owns 6,002,422 shares of the company’s stock valued at $22,689,000 after purchasing an additional 3,731,357 shares in the last quarter. 70.46% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Zynga from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Cowen restated a “buy” rating and set a $4.50 price objective on shares of Zynga in a report on Thursday, October 12th. KeyCorp restated a “hold” rating on shares of Zynga in a report on Tuesday, October 17th. Wedbush set a $5.00 price objective on Zynga and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, BidaskClub cut Zynga from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $4.14.

ILLEGAL ACTIVITY NOTICE: This piece was posted by Ticker Report and is owned by of Ticker Report. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.tickerreport.com/banking-finance/3140437/short-interest-in-zynga-inc-znga-declines-by-34-3.html.

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.

Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.