Zynga Inc (ZNGA): Hedge Funds Taking Some Chips Off The Table

ZNGA) was a good investment heading into the third quarter and how the stock traded in comparison to the top hedge fund picks.” data-reactid=”12″>The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Since the end of March, investors decided to bet on the economic recovery and a stock market rebound. S&P 500 Index returned more than 50% since its bottom. In this article you are going to find out whether hedge funds thought Zynga Inc (NASDAQ:ZNGA) was a good investment heading into the third quarter and how the stock traded in comparison to the top hedge fund picks.

ZNGA) investors should be aware of a decrease in activity from the world’s largest hedge funds of late. Zynga Inc (NASDAQ:ZNGA) was in 52 hedge funds’ portfolios at the end of the second quarter of 2020. Our calculations also showed that ZNGA isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.” data-reactid=”13″>Zynga Inc (NASDAQ:ZNGA) investors should be aware of a decrease in activity from the world’s largest hedge funds of late. Zynga Inc (NASDAQ:ZNGA) was in 52 hedge funds’ portfolios at the end of the second quarter of 2020. Our calculations also showed that ZNGA isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.

see the details here). We were also able to identify in advance a select group of hedge fund holdings that’ll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 34% through August 17th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.” data-reactid=”19″>Hedge funds’ reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn’t keep up with the unhedged returns of the market indices. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 56 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that’ll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 34% through August 17th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.

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Harold Levy of Iridian Asset Management

junior gold mining stock.. We go through lists like the 10 most profitable companies in America to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. Keeping this in mind we’re going to go over the key hedge fund action encompassing Zynga Inc (NASDAQ:ZNGA).” data-reactid=”41″>At Insider Monkey we scour multiple sources to uncover the next great investment idea. Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost precious metals prices. So, we are checking out this junior gold mining stock.. We go through lists like the 10 most profitable companies in America to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. Keeping this in mind we’re going to go over the key hedge fund action encompassing Zynga Inc (NASDAQ:ZNGA).

How have hedgies been trading Zynga Inc (NASDAQ:ZNGA)?

At the end of June, a total of 52 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -12% from the previous quarter. The graph below displays the number of hedge funds with bullish position in ZNGA over the last 20 quarters. With hedgies’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).

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Shelter Haven Capital Management allocated the biggest weight to Zynga Inc (NASDAQ:ZNGA), around 7.55% of its 13F portfolio. Tiger Legatus Capital is also relatively very bullish on the stock, earmarking 6.9 percent of its 13F equity portfolio to ZNGA.” data-reactid=”60″>The largest stake in Zynga Inc (NASDAQ:ZNGA) was held by Renaissance Technologies, which reported holding $165.5 million worth of stock at the end of September. It was followed by Iridian Asset Management with a $150.1 million position. Other investors bullish on the company included Cadian Capital, Two Sigma Advisors, and D E Shaw. In terms of the portfolio weights assigned to each position Shelter Haven Capital Management allocated the biggest weight to Zynga Inc (NASDAQ:ZNGA), around 7.55% of its 13F portfolio. Tiger Legatus Capital is also relatively very bullish on the stock, earmarking 6.9 percent of its 13F equity portfolio to ZNGA.