UBS Oconnor LLC Takes Position in Zynga Inc (NASDAQ:ZNGA)

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UBS Oconnor LLC purchased a new stake in Zynga Inc (NASDAQ:ZNGA) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 372,100 shares of the company’s stock, valued at approximately $2,281,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Machina Capital S.A.S. bought a new stake in shares of Zynga in the 2nd quarter worth approximately $27,000. Steward Partners Investment Advisory LLC acquired a new position in Zynga in the 2nd quarter valued at approximately $30,000. Atria Investments LLC acquired a new position in Zynga in the 2nd quarter valued at approximately $34,000. Cornerstone Advisors Inc. acquired a new position in Zynga in the 2nd quarter valued at approximately $35,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Zynga in the 2nd quarter valued at approximately $37,000. 71.26% of the stock is owned by institutional investors and hedge funds.

ZNGA stock traded down $0.03 during trading hours on Friday, hitting $6.09. The company’s stock had a trading volume of 440,618 shares, compared to its average volume of 17,634,284. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $5.81 billion, a PE ratio of 305.50, a price-to-earnings-growth ratio of 3.09 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 stock has a 50 day moving average price of $5.85 and a two-hundred day moving average price of $5.85.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.09). The firm had revenue of $306.50 million for the quarter, compared to the consensus estimate of $293.18 million. Zynga had a negative return on equity of 10.42% and a negative net margin of 16.50%. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. Sell-side analysts expect that Zynga Inc will post 0.13 earnings per share for the current year.

ZNGA has been the topic of several research reports. Wedbush reiterated an “outperform” rating and issued a $9.00 price objective on shares of Zynga in a research note on Tuesday, August 27th. ValuEngine upgraded shares of Zynga from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. BidaskClub lowered shares of Zynga from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 12th. Stephens upgraded shares of Zynga from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $6.50 to $8.25 in a research note on Thursday, May 30th. Finally, Morgan Stanley set a $7.00 price objective on shares of Zynga and gave the company a “buy” rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $6.82.

In related news, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $5.68, for a total transaction of $235,720.00. Following the completion of the sale, the chief operating officer now directly owns 631,458 shares of the company’s stock, valued at approximately $3,586,681.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.40% of the stock is currently owned by corporate 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.

Further Reading: Front-End Load

Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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