Magnus Financial Group LLC Lowers Stake in Zynga Inc (NASDAQ:ZNGA)

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Magnus Financial Group LLC trimmed its position in Zynga Inc (NASDAQ:ZNGA) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the company’s stock after selling 2,000 shares during the quarter. Magnus Financial Group LLC’s holdings in Zynga were worth $160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZNGA. Columbus Circle Investors purchased a new position in Zynga during the 1st quarter valued at $9,023,000. CIBC Private Wealth Group LLC increased its position in Zynga by 19.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 156,129 shares of the company’s stock valued at $614,000 after purchasing an additional 24,910 shares during the period. Quantamental Technologies LLC purchased a new position in Zynga during the 1st quarter valued at $614,000. Highbridge Capital Management LLC purchased a new position in Zynga during the 4th quarter valued at $19,741,000. Finally, MUFG Securities EMEA plc purchased a new position in Zynga during the 4th quarter valued at $1,061,000. 73.37% of the stock is currently owned by institutional investors.

Shares of ZNGA stock traded up $0.02 during mid-day trading on Tuesday, reaching $6.04. 16,617,368 shares of the company’s stock traded hands, compared to its average volume of 15,784,491. The stock has a market cap of $5.69 billion, a PE ratio of 302.00, a price-to-earnings-growth ratio of 3.28 and a beta of 0.32. Zynga Inc has a 12 month low of $3.32 and a 12 month high of $6.55. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.01.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.17). The firm had revenue of $265.00 million during the quarter, compared to the consensus estimate of $255.45 million. Zynga had a negative return on equity of 7.09% and a negative net margin of 12.34%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, sell-side analysts forecast that Zynga Inc will post 0.13 earnings per share for the current fiscal year.

A number of brokerages have issued reports on ZNGA. BidaskClub raised shares of Zynga from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Wedbush set a $8.00 target price on shares of Zynga and gave the company a “buy” rating in a report on Tuesday, May 28th. Barclays upgraded shares of Zynga to a “hold” rating and set a $6.00 target price on the stock in a report on Thursday, May 2nd. Jefferies Financial Group boosted their target price on shares of Zynga from $5.75 to $7.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Benchmark restated a “buy” rating and set a $8.00 target price (up previously from $5.00) on shares of Zynga in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $6.52.

In related news, Director Mark J. Pincus sold 586,800 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $5.22, for a total value of $3,063,096.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $6.08, for a total transaction of $252,320.00. Following the completion of the transaction, the chief operating officer now owns 670,727 shares in the company, valued at approximately $4,078,020.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,058,705 shares of company stock worth $16,757,096. 9.40% of the stock is currently owned by company insiders.

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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.

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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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