Equities research analysts at Ladenburg Thalmann assumed coverage on shares of Synacor Inc. (NASDAQ:SYNC) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating on the stock.
Shares of Synacor (NASDAQ:SYNC) opened at 2.85 on Tuesday. The stock’s market cap is $86.33 million. The stock has a 50 day moving average of $2.86 and a 200 day moving average of $2.73. Synacor has a one year low of $1.30 and a one year high of $3.98.
Synacor (NASDAQ:SYNC) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The firm earned $30.50 million during the quarter, compared to analyst estimates of $30.50 million. Synacor had a negative net margin of 4.71% and a negative return on equity of 12.44%. Equities analysts expect that Synacor will post ($0.39) EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Synacor by 43.0% in the second quarter. Bank of New York Mellon Corp now owns 52,460 shares of the company’s stock worth $161,000 after buying an additional 15,786 shares in the last quarter. Spark Investment Management LLC raised its position in Synacor by 6.1% in the first quarter. Spark Investment Management LLC now owns 179,800 shares of the company’s stock valued at $251,000 after buying an additional 10,300 shares during the period. Alambic Investment Management L.P. acquired a new position in Synacor during the second quarter valued at $478,000. Acadian Asset Management LLC raised its position in Synacor by 2,566.6% in the second quarter. Acadian Asset Management LLC now owns 227,433 shares of the company’s stock valued at $701,000 after buying an additional 218,904 shares during the period. Finally, Renaissance Technologies LLC raised its position in Synacor by 7.7% in the first quarter. Renaissance Technologies LLC now owns 630,333 shares of the company’s stock valued at $882,000 after buying an additional 44,818 shares during the period. Hedge funds and other institutional investors own 12.60% of the company’s stock.
Synacor Company Profile
Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.
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