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.
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.
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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