Insider Selling: Synacor CEO Unloads 11,500 Shares of Stock (SYNC)
Synacor (NASDAQ:SYNC) CEO Ronald N. Frankel unloaded 11,500 shares of Synacor stock on the open market in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $2.56, for a total transaction of $29,440.00. Following the completion of the sale, the chief executive officer now directly owns 958,718 shares in the company, valued at approximately $2,454,318. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Synacor (NASDAQ:SYNC) traded down 1.94% during mid-day trading on Monday, hitting $2.53. 18,830 shares of the company’s stock traded hands. Synacor has a 1-year low of $2.12 and a 1-year high of $3.59. The stock has a 50-day moving average of $2.34 and a 200-day moving average of $2.47. The company’s market cap is $69.6 million.
Synacor (NASDAQ:SYNC) last issued its quarterly earnings data 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. On average, analysts predict that Synacor will post $-0.13 earnings per share 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. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.