Salem Investment Counselors Inc. Purchases 124,480 Shares of Zynga Inc. (ZNGA)
Salem Investment Counselors Inc. raised its position in shares of Zynga Inc. (NASDAQ:ZNGA) by 14.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 975,855 shares of the company’s stock after purchasing an additional 124,480 shares during the quarter. Salem Investment Counselors Inc. owned 0.11% of Zynga worth $3,552,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL grew its stake in shares of Zynga by 240.0% during the 2nd quarter. Tudor Investment Corp ET AL now owns 359,125 shares of the company’s stock valued at $1,307,000 after purchasing an additional 253,512 shares during the period. UBS Oconnor LLC bought a new stake in shares of Zynga during the 2nd quarter valued at about $8,755,000. Balyasny Asset Management LLC grew its stake in shares of Zynga by 3,515.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,404,736 shares of the company’s stock valued at $12,393,000 after purchasing an additional 3,310,568 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Zynga during the 2nd quarter valued at about $170,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Zynga during the 2nd quarter valued at about $316,000. Institutional investors and hedge funds own 68.19% of the company’s stock.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $3.62, for a total value of $43,440.00. Following the sale, the director now directly owns 158,478 shares of the company’s stock, valued at $573,690.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 36,000 shares of company stock worth $132,360. 12.43% of the stock is owned by corporate insiders.
A number of research firms have issued reports on ZNGA. Robert W. Baird restated a “hold” rating and set a $4.00 price target on shares of Zynga in a research note on Friday, September 15th. Goldman Sachs Group, Inc. (The) began coverage on Zynga in a research note on Friday, September 8th. They set a “neutral” rating and a $3.90 price target for the company. BidaskClub upgraded Zynga from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded Zynga from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a research note on Thursday, August 10th. Finally, Benchmark Co. restated a “buy” rating and set a $4.35 price target (up from $3.65) on shares of Zynga in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $4.06.
Zynga Inc. (NASDAQ ZNGA) traded up 1.34% on Friday, reaching $3.78. The company had a trading volume of 9,851,606 shares. The stock’s 50 day moving average is $3.68 and its 200-day moving average is $3.37. Zynga Inc. has a 1-year low of $2.40 and a 1-year high of $4.02. The stock’s market capitalization is $3.27 billion.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The business had revenue of $209.20 million during the quarter, compared to analyst estimates of $201.64 million. Zynga’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts predict that Zynga Inc. will post $0.10 EPS for the current fiscal year.
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Zynga Company Profile
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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