Zynga Inc Options Volume Trading Up 373% On Monday

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Zynga Inc Options Volume Trading Up 373% On Monday

Zynga shares saw a significant surge in the volume of options trading activity on Monday when investors bought 22,969 call options, which is an increase of 373% compared to the average daily volume of 4,864 call options.

Analysts ratings, insider selling

Zynga shares were up 4.27% on Monday to close at $2.81. Recently Ellen F. Siminoff, a Zynga director, offloaded 10,000 shares in a transaction dated Dec. 15. Siminoff sold the shares at an average price of $2.51 for a total of $25,100, according to a filing with the SEC.

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Recently a number of analysts have assigned ratings to the stock. Jefferies has assigned a Buy rating to the stock, upgrading it from Hold in a research note to investors on Nov. 11. Analysts have assigned it a price target of $4.50, an increase from the earlier price target of $2.48. Benchmark Co. analysts slashed their price target on Zynga to $2.45 in a research note to investors on Nov. 10. Credit Suisse analysts have assigned an Underperform rating to the game maker and a price target of $3.44 in a research note to investors on Nov. 7. Zynga presently has a consensus rating of Hold and a consensus price target of $3.75.

Zynga launches Looney Tunes Dash

The social game maker and Eat Sleep Play announced the worldwide launch of Looney Tunes Dash! on Dec. 18. The game is now available for download in the app stores for the iPhone, iPad, and iPod Touch and on Google Play.

The game is set in the unimaginative and unpredictable world of Looney Tunes and is a runner game on mobile in which players have to cross hurdles by running, jumping, smashing and sliding. Players may select from an exhaustive list of characters such as Bugs Bunny, Road Runner, Tweety, etc.

John van Suchtelen, the general manager of Looney Tunes Dash, said in an interview with GamesBeat that there are millions of fans who are fond of these games in the runner category but are searching for something fresh. Suchtelen said, “I think about how I can feel like I’m winning. The world seems familiar, but it is also fresh.”

Zynga’’s motive behind licensing the Looney Tunes characters from Interactive Entertainment is to stand apart from competitors in this category.

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Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@wordpress-785388-2679526.cloudwaysapps.com
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