Zynga Inc (ZNGA) Short Interest Update

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

Shares of Zynga (ZNGA) opened at $3.97 on Friday. Zynga has a 12-month low of $2.40 and a 12-month high of $4.34. The company has a market capitalization of $3,460.00, a P/E ratio of -132.33, a PEG ratio of 2.86 and a beta of 0.76.

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

Several research analysts recently weighed in on the company. Consumer Edge assumed coverage on Zynga in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $4.50 price target for the company. BidaskClub cut Zynga from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Zacks Investment Research cut Zynga from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Wedbush set a $5.00 price objective on Zynga and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, KeyCorp restated a “hold” rating on shares of Zynga in a research report on Tuesday, October 17th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $4.14.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Zynga by 4.5% during the second quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock worth $274,000 after purchasing an additional 3,261 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Zynga by 9.1% during the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock worth $162,000 after purchasing an additional 3,700 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of Zynga by 3.6% during the second quarter. Suntrust Banks Inc. now owns 134,728 shares of the company’s stock worth $490,000 after purchasing an additional 4,660 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Zynga by 23.2% during the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock worth $112,000 after purchasing an additional 5,815 shares in the last quarter. Finally, Utah Retirement Systems increased its position in shares of Zynga by 4.7% during the second quarter. Utah Retirement Systems now owns 138,488 shares of the company’s stock worth $505,000 after purchasing an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.

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About Zynga

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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