Ailanthus Capital Management LP Has $7.62 Million Stake in Zynga Inc (ZNGA)
Ailanthus Capital Management LP lowered its holdings in Zynga Inc (NASDAQ:ZNGA) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,899,000 shares of the company’s stock after selling 375,000 shares during the period. Zynga makes up about 4.0% of Ailanthus Capital Management LP’s holdings, making the stock its 10th biggest position. Ailanthus Capital Management LP’s holdings in Zynga were worth $7,615,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mark Asset Management Corp purchased a new position in Zynga in the 3rd quarter worth approximately $201,000. JPMorgan Chase & Co. grew its stake in Zynga by 2,424.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 623,434 shares of the company’s stock worth $2,500,000 after buying an additional 598,743 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Zynga by 5.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 9,494,516 shares of the company’s stock worth $38,073,000 after buying an additional 497,820 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Zynga in the 3rd quarter worth approximately $3,574,000. Finally, Hsbc Holdings PLC grew its stake in Zynga by 372.5% in the 3rd quarter. Hsbc Holdings PLC now owns 821,347 shares of the company’s stock worth $3,290,000 after buying an additional 647,499 shares in the last quarter. 78.92% of the stock is currently owned by institutional investors.
In related news, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $3.95, for a total transaction of $163,925.00. Following the completion of the sale, the chief operating officer now directly owns 493,294 shares in the company, valued at approximately $1,948,511.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew S. Bromberg sold 8,000 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $3.56, for a total transaction of $28,480.00. Following the sale, the chief operating officer now owns 548,794 shares of the company’s stock, valued at $1,953,706.64. The disclosure for this sale can be found here. Insiders sold a total of 584,322 shares of company stock valued at $2,201,476 in the last ninety days. 11.87% of the stock is owned by corporate insiders.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Zynga had a net margin of 3.12% and a return on equity of 1.89%. The company had revenue of $233.24 million during the quarter, compared to analysts’ expectations of $224.54 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that Zynga Inc will post 0.09 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. BidaskClub raised shares of Zynga from a “strong sell” rating to a “sell” rating in a research note on Friday, August 31st. Zacks Investment Research cut shares of Zynga from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. ValuEngine raised shares of Zynga from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Wedbush set a $6.00 price objective on shares of Zynga and gave the company a “buy” rating in a research note on Thursday, November 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Zynga in a research note on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $4.85.
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Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems With Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.
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