Voleon Capital Management LP Purchases New Position in Zynga Inc (NASDAQ:ZNGA)

Voleon Capital Management LP purchased a new stake in shares of Zynga Inc (NASDAQ:ZNGA) during the second quarter, HoldingsChannel.com reports. The firm purchased 1,008,000 shares of the company’s stock, valued at approximately $6,179,000.

Other large investors have also made changes to their positions in the company. Comerica Bank grew its holdings in shares of Zynga by 542.2% during the 2nd quarter. Comerica Bank now owns 156,820 shares of the company’s stock worth $977,000 after acquiring an additional 132,400 shares during the period. Advisor Group Inc. boosted its position in shares of Zynga by 1,556.0% in the 2nd quarter. Advisor Group Inc. now owns 32,243 shares of the company’s stock worth $197,000 after purchasing an additional 30,296 shares in the last quarter. Atria Investments LLC bought a new stake in shares of Zynga in the 2nd quarter worth approximately $34,000. DekaBank Deutsche Girozentrale boosted its position in shares of Zynga by 29.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 31,774 shares of the company’s stock worth $192,000 after purchasing an additional 7,139 shares in the last quarter. Finally, Meitav Dash Investments Ltd. boosted its position in shares of Zynga by 4.8% in the 1st quarter. Meitav Dash Investments Ltd. now owns 540,229 shares of the company’s stock worth $2,842,000 after purchasing an additional 24,498 shares in the last quarter. Institutional investors own 71.37% of the company’s stock.

A number of brokerages have recently commented on ZNGA. ValuEngine raised Zynga from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Robert W. Baird set a $8.00 price target on Zynga and gave the stock a “buy” rating in a research report on Thursday, August 29th. Stephens raised Zynga from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $6.50 to $8.25 in a research report on Thursday, May 30th. Wedbush reissued an “outperform” rating and issued a $9.00 price target on shares of Zynga in a research report on Tuesday, August 27th. Finally, Bank of America boosted their price target on Zynga from $6.60 to $6.70 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $6.82.



In related news, Director Ellen F. Siminoff sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $6.11, for a total value of $30,550.00. Following the transaction, the director now directly owns 229,092 shares of the company’s stock, valued at approximately $1,399,752.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $6.30, for a total value of $261,450.00. Following the completion of the transaction, the chief operating officer now directly owns 659,146 shares in the company, valued at $4,152,619.80. The disclosure for this sale can be found here. Insiders sold a total of 88,000 shares of company stock worth $527,720 over the last ninety days. 9.40% of the stock is currently owned by insiders.

ZNGA stock traded down $0.13 during midday trading on Tuesday, hitting $6.03. The company’s stock had a trading volume of 776,006 shares, compared to its average volume of 19,212,724. The company has a market cap of $5.80 billion, a PE ratio of 301.50, a P/E/G ratio of 3.15 and a beta of 0.31. Zynga Inc has a 12 month low of $3.32 and a 12 month high of $6.65. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average is $5.84 and its 200-day moving average is $5.87.

Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the 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%. The firm’s revenue was up 41.2% on a year-over-year basis. Analysts expect that Zynga Inc will post 0.13 earnings per share for the current year.

About Zynga

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.

Read More: Market Perform

Want to see what other hedge funds are holding ZNGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zynga Inc (NASDAQ:ZNGA).

Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.