Quantitative Systematic Strategies LLC lifted its position in Zynga Inc (NASDAQ:ZNGA) by 88.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,437 shares of the company’s stock after buying an additional 10,536 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Zynga were worth $138,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Columbus Circle Investors acquired a new stake in shares of Zynga in the first quarter worth $9,023,000. Quantamental Technologies LLC acquired a new stake in shares of Zynga in the first quarter worth $614,000. First Quadrant L P CA lifted its stake in shares of Zynga by 180.8% in the first quarter. First Quadrant L P CA now owns 23,103 shares of the company’s stock worth $123,000 after buying an additional 14,876 shares during the last quarter. Meitav Dash Investments Ltd. lifted its stake in shares of Zynga by 4.8% in the first quarter. Meitav Dash Investments Ltd. now owns 540,229 shares of the company’s stock worth $2,842,000 after buying an additional 24,498 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of Zynga by 92.5% in the first quarter. Moors & Cabot Inc. now owns 206,750 shares of the company’s stock worth $1,096,000 after buying an additional 99,375 shares during the last quarter. Institutional investors and hedge funds own 73.47% of the company’s stock.
A number of brokerages have recently weighed in on ZNGA. Benchmark restated a “buy” rating and issued a $8.00 price objective (up from $5.00) on shares of Zynga in a research note on Thursday, May 2nd. Stephens raised shares of Zynga from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $6.50 to $8.25 in a research report on Thursday, May 30th. Morgan Stanley set a $7.00 target price on shares of Zynga and gave the stock a “buy” rating in a research report on Monday, July 15th. Wedbush boosted their target price on shares of Zynga from $7.50 to $9.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Bank of America boosted their target price on shares of Zynga from $6.60 to $6.70 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $6.81.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.09). The business had revenue of $306.50 million during the quarter, compared to the consensus estimate of $293.18 million. Zynga had a negative net margin of 16.50% and a negative return on equity of 10.42%. Zynga’s revenue was up 41.2% on a year-over-year basis. On average, analysts predict that Zynga Inc will post 0.13 EPS for the current fiscal year.
In other Zynga news, COO Matthew S. Bromberg sold 41,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $6.11, for a total value of $253,565.00. Following the sale, the chief operating officer now owns 707,203 shares of the company’s stock, valued at approximately $4,321,010.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Miles Ryan sold 36,798 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.09, for a total transaction of $224,099.82. Following the completion of the sale, the insider now directly owns 10,667 shares in the company, valued at approximately $64,962.03. The disclosure for this sale can be found here. Insiders sold a total of 161,298 shares of company stock worth $991,435 in the last three months. Insiders own 9.40% of the company’s stock.
Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.
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