Synacor CEO Ronald N. Frankel Unloads 11,500 Shares (SYNC)
Synacor (NASDAQ:SYNC) CEO Ronald N. Frankel sold 11,500 shares of Synacor stock on the open market in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $2.26, for a total value of $25,990.00. Following the transaction, the chief executive officer now directly owns 993,218 shares of the company’s stock, valued at approximately $2,244,673. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Synacor (NASDAQ:SYNC) opened at 2.30 on Wednesday. Synacor has a one year low of $2.13 and a one year high of $3.98. The stock has a 50-day moving average of $2.38 and a 200-day moving average of $2.53. The company’s market cap is $63.3 million.
Synacor (NASDAQ:SYNC) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.05). The company had revenue of $25.20 million for the quarter, compared to the consensus estimate of $24.55 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was down 13.4% on a year-over-year basis. Analysts expect that Synacor will post $-0.13 EPS for the current fiscal year.
A number of research firms have recently commented on SYNC. Analysts at Bank of America reiterated an “underperform” rating on shares of Synacor in a research note on Wednesday, May 14th. They now have a $2.40 price target on the stock, down previously from $2.50. Separately, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Synacor in a research note on Wednesday, May 14th. They now have a $3.00 price target on the stock, down previously from $3.50.
Synacor, Inc (NASDAQ:SYNC) is a provider of solutions for delivery of online content and services.
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