5 Stocks to Sell According to Jinghua Yan’s TwinBeech Capital

1. Zynga Inc. (NASDAQ:ZNGA)

Number of Hedge Fund Holders: 63
Percentage Decrease in Stake in Q1: 100% 

TwinBeech Capital sold its entire stake in the social game developer company Zynga Inc. (NASDAQ:ZNGA) in the first quarter of 2022. Zynga Inc. (NASDAQ:ZNGA) creates, promotes, and manages social games as live services for mobile platforms like Apple’s iOS and Google’s Android operating systems, as well as social networking sites like Facebook.

UBS analyst John Hodulik downgraded Zynga Inc. (NASDAQ:ZNGA) from Buy to Neutral on March 15, with a price target of $10, down from $13.50. The downgrade was caused by the end of the go-shop period, with the buyout scheduled to be completed in Q2.

At the end of the first quarter of 2022, 63 hedge funds in the database of Insider Monkey held stakes worth $1.99 billion in Zynga Inc. (NASDAQ:ZNGA), up from 47 the preceding quarter worth $540.49 million. Diamond Hill Capital is Zynga Inc. (NASDAQ:ZNGA)’s most significant shareholder, with shares worth $289.48 million.

Here is what ClearBridge Investments, an investment management firm, has to say about Zynga Inc. (NASDAQ:ZNGA) in its Q3 2021 investor letter:

“A handful of our rapid growers hit tough earnings comparisons over the summer after experiencing a surge in demand in the second quarter of 2020 as companies moved to remote work and consumers were confined to their homes. Zynga, which develops games played on social and mobile platforms, experienced a significant uptick in new customers last year but has not seen as much retention and gaming usage as the economy has reopened.”

You can also take a peek at 10 Best Stocks to Buy Now According to Tom Gayner’s Markel Gayner Asset Management and 10 Tech Stocks to Buy Now According to Barry Dargan’s Intermede Investment Partners.

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