Van ECK Associates Corp Takes Position in Zynga Inc (ZNGA)

Van ECK Associates Corp bought a new stake in shares of Zynga Inc (NASDAQ:ZNGA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 47,550 shares of the company’s stock, valued at approximately $187,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can raised its position in Zynga by 111.1% during the third quarter. Bank of Montreal Can now owns 32,809 shares of the company’s stock worth $131,000 after acquiring an additional 17,269 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Zynga in the third quarter valued at about $193,000. American Century Companies Inc. bought a new position in shares of Zynga in the third quarter valued at about $5,719,000. JPMorgan Chase & Co. raised its position in shares of Zynga by 2,424.9% in the third quarter. JPMorgan Chase & Co. now owns 623,434 shares of the company’s stock valued at $2,500,000 after purchasing an additional 598,743 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zynga in the third quarter valued at about $1,016,000. 82.87% of the stock is owned by institutional investors and hedge funds.

ZNGA stock opened at $5.37 on Friday. Zynga Inc has a 52 week low of $3.32 and a 52 week high of $5.42. The stock has a market capitalization of $5.00 billion, a P/E ratio of 268.50, a price-to-earnings-growth ratio of 1.72 and a beta of 0.41.

Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Wednesday, February 6th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). Zynga had a net margin of 1.70% and a return on equity of 1.14%. The business had revenue of $248.69 million during the quarter, compared to analyst estimates of $245.78 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Research analysts anticipate that Zynga Inc will post 0.14 EPS for the current fiscal year.

In related news, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $4.99, for a total value of $207,085.00. Following the transaction, the chief operating officer now directly owns 595,818 shares in the company, valued at $2,973,131.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Miles Ryan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $3.74, for a total transaction of $74,800.00. Following the completion of the transaction, the insider now owns 226,720 shares in the company, valued at $847,932.80. The disclosure for this sale can be found here. Insiders sold 397,194 shares of company stock worth $1,660,648 over the last 90 days. 11.87% of the stock is currently owned by corporate insiders.

ZNGA has been the topic of several research analyst reports. BidaskClub raised shares of Zynga from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 5th. Stephens initiated coverage on shares of Zynga in a research report on Thursday, January 10th. They issued an “equal weight” rating and a $4.75 price objective on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $6.00 price objective on shares of Zynga in a research report on Thursday, February 7th. Wedbush dropped their price objective on shares of Zynga from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, December 21st. Finally, Goldman Sachs Group initiated coverage on shares of Zynga in a research report on Wednesday, January 30th. They issued a “buy” rating and a $5.30 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $4.98.

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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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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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