Marathon Asset Management Ltd Sells 1,445,372 Shares of Zynga Inc. (NASDAQ:ZNGA)

Marathon Asset Management Ltd reduced its stake in Zynga Inc. (NASDAQ:ZNGAGet Rating) by 26.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,939,760 shares of the company’s stock after selling 1,445,372 shares during the period. Marathon Asset Management Ltd’s holdings in Zynga were worth $36,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brown Advisory Inc. lifted its stake in Zynga by 3.8% during the fourth quarter. Brown Advisory Inc. now owns 26,885,858 shares of the company’s stock worth $172,069,000 after purchasing an additional 989,291 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Zynga by 45.4% during the fourth quarter. William Blair Investment Management LLC now owns 26,343,092 shares of the company’s stock worth $168,596,000 after purchasing an additional 8,229,034 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Zynga by 31.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 25,335,743 shares of the company’s stock worth $162,149,000 after purchasing an additional 6,062,477 shares during the last quarter. Geode Capital Management LLC lifted its stake in Zynga by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 13,582,993 shares of the company’s stock worth $86,940,000 after purchasing an additional 616,469 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Zynga by 96.7% during the fourth quarter. Point72 Asset Management L.P. now owns 12,724,200 shares of the company’s stock worth $81,435,000 after purchasing an additional 6,256,834 shares during the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.

Shares of NASDAQ:ZNGA opened at $8.18 on Friday. The firm has a market cap of $9.26 billion, a P/E ratio of -81.80 and a beta of 0.03. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. Zynga Inc. has a 12-month low of $5.57 and a 12-month high of $11.25. The business has a fifty day simple moving average of $8.18 and a 200 day simple moving average of $8.39.

Zynga (NASDAQ:ZNGAGet Rating) last announced its earnings results on Monday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.06). The company had revenue of $694.90 million for the quarter, compared to the consensus estimate of $749.20 million. Zynga had a positive return on equity of 0.72% and a negative net margin of 3.76%. As a group, equities research analysts expect that Zynga Inc. will post 0.19 EPS for the current year.

Several equities research analysts have weighed in on the company. MKM Partners cut Zynga from a “buy” rating to a “neutral” rating and cut their target price for the stock from $10.50 to $9.86 in a research note on Friday, March 4th. StockNews.com assumed coverage on Zynga in a report on Sunday, June 26th. They set a “hold” rating on the stock. Finally, UBS Group cut their price objective on Zynga from $13.50 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, March 15th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.39.

About Zynga (Get Rating)

Zynga Inc develops, markets, and operates social game services in the United States and internationally. The company provides social games as live services played on mobile platforms, such as Apple iOS and Google's Android operating systems; social networking platforms, such as Facebook and Snapchat; and personal computers consoles, such as Nintendo's Switch game console, and other platforms and consoles.

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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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