Ladenburg Thalmann Begins Coverage on Synacor Inc. (SYNC)
Equities research analysts at Ladenburg Thalmann assumed coverage on shares of Synacor Inc. (NASDAQ:SYNC) in a research report issued on Tuesday. The brokerage set a “buy” rating on the stock.
Shares of Synacor (NASDAQ:SYNC) opened at 2.95 on Tuesday. Synacor has a 12-month low of $1.30 and a 12-month high of $3.98. The company’s 50-day moving average price is $2.86 and its 200 day moving average price is $2.74. The firm’s market capitalization is $89.36 million.
Synacor (NASDAQ:SYNC) last released 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 return on equity of 12.44% and a negative net margin of 4.71%. On average, equities research analysts forecast that Synacor will post ($0.39) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Synacor by 86.5% in the second quarter. Vanguard Group Inc. now owns 629,632 shares of the company’s stock worth $1,939,000 after buying an additional 291,976 shares during the period. Spark Investment Management LLC raised its position in Synacor by 155.8% in the second quarter. Spark Investment Management LLC now owns 459,900 shares of the company’s stock worth $1,416,000 after buying an additional 280,100 shares during the period. 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 worth $701,000 after buying an additional 218,904 shares during the period. Alambic Investment Management L.P. bought a new position in Synacor during the second quarter worth about $478,000. 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 worth $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, 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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