Zynga (ZNGA) Upgraded by BidaskClub to Sell

Zynga (NASDAQ:ZNGA) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Tuesday.

Several other research firms also recently commented on ZNGA. Zacks Investment Research downgraded Zynga from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 13th. Consumer Edge assumed coverage on Zynga in a report on Wednesday, January 3rd. They set an “overweight” rating and a $4.50 price objective for the company. Wedbush set a $5.00 price objective on Zynga and gave the company a “buy” rating in a report on Wednesday, October 18th. KeyCorp restated a “hold” rating on shares of Zynga in a report on Tuesday, October 17th. Finally, Cowen restated a “buy” rating and set a $4.50 price objective on shares of Zynga in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $4.14.

Shares of Zynga (ZNGA) opened at $3.69 on Tuesday. The firm has a market capitalization of $3,210.00, a P/E ratio of -123.00, a price-to-earnings-growth ratio of 2.58 and a beta of 0.51. Zynga has a 1-year low of $2.40 and a 1-year high of $4.34.

In related news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $3.97, for a total transaction of $47,640.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Matthew S. Bromberg sold 50,000 shares of Zynga stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $3.95, for a total value of $197,500.00. Following the transaction, the chief operating officer now directly owns 294,206 shares in the company, valued at approximately $1,162,113.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,000 shares of company stock valued at $1,007,560. Corporate insiders own 12.43% of the company’s stock.

Several large investors have recently made changes to their positions in ZNGA. Alyeska Investment Group L.P. boosted its position in shares of Zynga by 453.4% during the third quarter. Alyeska Investment Group L.P. now owns 7,107,304 shares of the company’s stock valued at $26,866,000 after buying an additional 5,822,916 shares during the last quarter. Telemark Asset Management LLC purchased a new position in shares of Zynga during the third quarter valued at approximately $18,900,000. River & Mercantile Asset Management LLP boosted its position in shares of Zynga by 126.3% during the third quarter. River & Mercantile Asset Management LLP now owns 7,707,049 shares of the company’s stock valued at $29,171,000 after buying an additional 4,301,645 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Zynga by 40.7% during the fourth quarter. American Century Companies Inc. now owns 13,040,309 shares of the company’s stock valued at $52,161,000 after buying an additional 3,774,156 shares during the last quarter. Finally, First Quadrant L P CA boosted its position in shares of Zynga by 164.3% during the third quarter. First Quadrant L P CA now owns 6,002,422 shares of the company’s stock valued at $22,689,000 after buying an additional 3,731,357 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://sportsperspectives.com/2018/02/08/zynga-znga-upgraded-by-bidaskclub-to-sell.html.

Zynga Company Profile

Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply