Private Advisor Group LLC Increases Holdings in Zynga Inc (ZNGA)
Private Advisor Group LLC grew its position in Zynga Inc (NASDAQ:ZNGA) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,441 shares of the company’s stock after buying an additional 4,326 shares during the period. Private Advisor Group LLC’s holdings in Zynga were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in ZNGA. Parallel Advisors LLC lifted its position in shares of Zynga by 1,171.4% in the 4th quarter. Parallel Advisors LLC now owns 8,480 shares of the company’s stock worth $33,000 after acquiring an additional 7,813 shares during the period. Enlightenment Research LLC bought a new stake in shares of Zynga in the 4th quarter worth approximately $46,000. Point View Wealth Management Inc. bought a new stake in shares of Zynga in the 4th quarter worth approximately $54,000. Hotaling Investment Management LLC bought a new stake in shares of Zynga in the 4th quarter worth approximately $55,000. Finally, AdvisorNet Financial Inc lifted its position in shares of Zynga by 18.0% in the 4th quarter. AdvisorNet Financial Inc now owns 14,060 shares of the company’s stock worth $55,000 after acquiring an additional 2,149 shares during the period. Institutional investors own 82.87% of the company’s stock.
Zynga stock opened at $5.37 on Friday. The company has a market cap of $5.00 billion, a P/E ratio of 268.50, a P/E/G ratio of 1.72 and a beta of 0.41. Zynga Inc has a one year low of $3.32 and a one year high of $5.42.
In related news, COO Matthew S. Bromberg sold 41,500 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $4.99, for a total transaction of $207,085.00. Following the completion of the transaction, the chief operating officer now owns 595,818 shares in the company, valued at approximately $2,973,131.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Miles Ryan sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $3.74, for a total value of $74,800.00. Following the transaction, the insider now owns 226,720 shares of the company’s stock, valued at approximately $847,932.80. The disclosure for this sale can be found here. Insiders have sold a total of 397,194 shares of company stock valued at $1,660,648 in the last 90 days. 11.87% of the stock is owned by corporate insiders.
A number of analysts have commented on the company. ValuEngine upgraded Zynga from a “hold” rating to a “buy” rating in a research report on Wednesday, December 5th. BidaskClub upgraded Zynga from a “sell” rating to a “hold” rating in a research report on Saturday, December 8th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $6.00 price objective on shares of Zynga in a research report on Thursday, February 7th. Wedbush reduced their price objective on Zynga from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, December 21st. Finally, Stephens initiated coverage on Zynga in a research report on Thursday, January 10th. They issued an “equal weight” rating and a $4.75 price objective for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $4.98.
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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