Zynga Inc (NASDAQ:ZNGA) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 8,112,243 shares, a drop of 50.9% from the January 31st total of 16,522,442 shares. Based on an average trading volume of 20,216,556 shares, the days-to-cover ratio is currently 0.4 days. Approximately 1.1% of the company’s shares are short sold.
In other Zynga news, COO Matthew S. Bromberg sold 50,000 shares of the firm’s stock in a transaction on Wednesday, 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 sale, the chief operating officer now directly owns 294,206 shares of the company’s stock, valued at approximately $1,162,113.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $3.97, for a total value of $47,640.00. The disclosure for this sale can be found here. Insiders sold a total of 268,000 shares of company stock valued at $1,051,000 over the last ninety days. Corporate insiders own 12.43% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZNGA. Bourgeon Capital Management LLC grew its position in Zynga by 147.1% in the 4th quarter. Bourgeon Capital Management LLC now owns 25,200 shares of the company’s stock valued at $101,000 after acquiring an additional 15,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Zynga by 23.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after acquiring an additional 5,815 shares in the last quarter. Crow Point Partners LLC acquired a new position in Zynga in the 4th quarter valued at about $114,000. Sawtooth Solutions LLC grew its position in Zynga by 98.6% in the 4th quarter. Sawtooth Solutions LLC now owns 36,515 shares of the company’s stock valued at $146,000 after acquiring an additional 18,131 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Zynga in the 3rd quarter valued at about $150,000. 71.87% of the stock is owned by institutional investors.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $233.30 million for the quarter, compared to analyst estimates of $218.64 million. Zynga had a return on equity of 1.66% and a net margin of 3.09%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) earnings per share. research analysts anticipate that Zynga will post 0.06 EPS for the current year.
A number of brokerages have issued reports on ZNGA. BidaskClub downgraded Zynga from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 31st. Jefferies Group reaffirmed a “buy” rating and issued a $5.00 target price on shares of Zynga in a research note on Sunday, February 11th. Zacks Investment Research downgraded Zynga from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 13th. Consumer Edge began coverage on Zynga in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $4.50 target price for the company. Finally, Credit Suisse Group raised their target price on Zynga from $3.80 to $4.00 and gave the stock an “underperform” rating in a research note on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Zynga presently has an average rating of “Hold” and an average target price of $4.24.
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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