Neo Ivy Capital Management Takes Position in Zynga Inc (NASDAQ:ZNGA)
Neo Ivy Capital Management acquired a new stake in shares of Zynga Inc (NASDAQ:ZNGA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 114,100 shares of the company’s stock, valued at approximately $698,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Synovus Financial Corp purchased a new stake in shares of Zynga during the 3rd quarter valued at about $27,000. NEXT Financial Group Inc grew its position in shares of Zynga by 100.0% in the 4th quarter. NEXT Financial Group Inc now owns 6,000 shares of the company’s stock worth $37,000 after acquiring an additional 3,000 shares in the last quarter. Fulton Bank N.A. acquired a new position in shares of Zynga in the 4th quarter worth approximately $61,000. Koshinski Asset Management Inc. acquired a new position in shares of Zynga in the 4th quarter worth approximately $67,000. Finally, Sigma Planning Corp acquired a new position in shares of Zynga in the 4th quarter worth approximately $69,000. 80.13% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ ZNGA traded up $0.16 during trading hours on Tuesday, hitting $6.69. 553,629 shares of the company’s stock were exchanged, compared to its average volume of 19,269,844. Zynga Inc has a 1-year low of $5.12 and a 1-year high of $7.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 167.25, a PEG ratio of 2.98 and a beta of 0.21. The company’s 50-day moving average price is $6.66 and its 200-day moving average price is $6.27.
A number of research analysts recently issued reports on the company. SunTrust Banks assumed coverage on Zynga in a research report on Monday, January 6th. They set a “buy” rating and a $7.50 price objective for the company. ValuEngine upgraded Zynga from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. BidaskClub upgraded Zynga from a “sell” rating to a “hold” rating in a research report on Friday. Morgan Stanley reiterated a “buy” rating and set a $7.75 price target on shares of Zynga in a research report on Monday, February 10th. Finally, Wedbush reiterated a “buy” rating and set a $9.00 price target on shares of Zynga in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $7.60.
In other Zynga news, CAO Jeffrey Buckley sold 4,304 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $7.13, for a total value of $30,687.52. Following the completion of the transaction, the chief accounting officer now owns 73,337 shares of the company’s stock, valued at approximately $522,892.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey Miles Ryan sold 15,625 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $6.21, for a total value of $97,031.25. Following the completion of the transaction, the insider now directly owns 72,034 shares of the company’s stock, valued at approximately $447,331.14. The disclosure for this sale can be found here. Insiders have sold a total of 1,204,118 shares of company stock valued at $7,858,579 in the last three months. 9.40% of the stock is owned by insiders.
Zynga Profile
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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