Zynga Inc (ZNGA): Ricky Sandler’s Eminence Capital Discloses 5.1% Passive Stake

New York-based hedge fund Eminence Capital, managed by Ricky Sandler, has revealed a 5.1% passive stake in Zynga Inc (NASDAQ:ZNGA). A new filing with the U.S. Securities and Exchange Commission showed that Eminence Capital holds 38.07 million class A common stock shares of the company. The stake represents an increase from 26.53 million shares the fund disclosed in its 13F filing.

Ricky Sandler

Zynga Inc (NASDAQ:ZNGA), located in San Francisco, California, is engaged in the development of social games. The company has a market cap of $2.71 billion, and its stock currently trades at around $3.02. Analysts have the consensus average target price of $3.62 for the company’s stock, with the average recommendation ‘Hold.’

In July, the company said it had appointed Dr. Regina E. Dugan, vice president of engineering and leader of the advanced technology and projects (ATAP) group at Google Inc (NASDAQ:GOOG), to its board of directors, according to a press release.

For the second quarter of 2014, Zynga Inc (NASDAQ:ZNGA) reported a net loss of $62.5 million, compared to $15.8 million in the same quarter a year ago. The company’s revenue fell 34% to $153.2 million from $230.7 million in the second quarter of 2013. In addition, the company revised its outlook for full-year 2014. It expects adjusted EBITDA to be in the range of $40 million to $60 million, compared to previous expectation between $70 million and $100 million, and bookings are projected to be in the range of $695 million to $725 million, compared to previous expectation between $770 million and $810 million.

Other hedge funds betting big on Zynga Inc (NASDAQ:ZNGA) include Viking Global, run by Andreas Halvorsen, and Raging Capital Management, led by William C. Martin. Viking Global disclosed owning 25.93 million shares of the company, while Raging Capital Management reported holding 19.73 million shares of the company.

Eminence Capital was founded by Ricky Sandler in 1998. Sandler, 42 years old, started his career in 1991 as a research analyst at Mark Asset Management. During the second quarter, Eminence Capital focused more on Services and Technology stocks. The value of the fund’s equity portfolio for the second quarter totaled $6.1 billion. Top three holdings of Eminence Capital for the second quarter are represented by Autodesk, Inc. (NASDAQ:ADSK), National-Oilwell Varco, Inc. (NYSE:NOV), and Fossil Group Inc (NASDAQ:FOSL).

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!