River & Mercantile Asset Management LLP lessened its holdings in shares of Zynga Inc (NASDAQ:ZNGA) by 2.6% in the third quarter, Holdings Channel.com reports. The firm owned 1,067,429 shares of the company’s stock after selling 28,960 shares during the period. River & Mercantile Asset Management LLP’s holdings in Zynga were worth $6,218,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of ZNGA. Machina Capital S.A.S. bought a new position in Zynga during the second quarter worth about $27,000. Synovus Financial Corp bought a new position in Zynga during the third quarter worth about $27,000. Steward Partners Investment Advisory LLC bought a new position in Zynga during the second quarter worth about $30,000. Atria Investments LLC bought a new position in Zynga during the second quarter worth about $34,000. Finally, Cornerstone Advisors Inc. bought a new position in Zynga during the second quarter worth about $35,000. Hedge funds and other institutional investors own 72.00% of the company’s stock.
In other Zynga news, Director Ellen F. Siminoff sold 5,000 shares of Zynga stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,550.00. Following the completion of the sale, the director now directly owns 229,092 shares in the company, valued at $1,399,752.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Matthew S. Bromberg sold 41,500 shares of Zynga stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $5.68, for a total transaction of $235,720.00. Following the sale, the chief operating officer now owns 631,458 shares of the company’s stock, valued at $3,586,681.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 337,890 shares of company stock valued at $2,028,282. 9.40% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on the stock. Bank of America increased 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. BidaskClub upgraded shares of Zynga from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 9th. Morgan Stanley set a $7.00 price objective on shares of Zynga and gave the company a “buy” rating in a research report on Monday, July 15th. Wedbush restated an “outperform” rating and issued a $9.00 price objective on shares of Zynga in a research report on Tuesday, August 27th. Finally, Robert W. Baird set a $8.00 price objective on shares of Zynga and gave the company a “buy” rating in a research report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $7.17.
Shares of ZNGA stock traded up $0.02 during trading hours on Monday, reaching $6.30. The stock had a trading volume of 8,783,741 shares, compared to its average volume of 17,303,100. The stock’s fifty day simple moving average is $6.10 and its 200 day simple moving average is $6.05. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.36. Zynga Inc has a 12 month low of $3.32 and a 12 month high of $6.65. The firm has a market capitalization of $5.93 billion, a PE ratio of 315.00, a PEG ratio of 2.98 and a beta of 0.31.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Zynga had a net margin of 3.94% and a negative return on equity of 11.86%. The company had revenue of $345.29 million during the quarter, compared to analyst estimates of $330.56 million. During the same period last year, the business earned $0.01 earnings per share. Zynga’s revenue was up 48.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Zynga Inc will post 0.15 EPS for the current fiscal year.
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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