Synacor (SYNC) Rating Lowered to Sell at Zacks Investment Research

Synacor (NASDAQ:SYNC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.

According to Zacks, “Synacor, Inc. is a provider of solutions for delivery of online content and services. Synacor clients including cable, telecom, satellite and consumer electronics companies, use Synacor’s Platform to deliver TV shows, movies, music, news, games, sports, email, tech support and other value-added services to their end-customers, across multiple connected devices. Its platform includes Website design and development, unified registration and login (single sign-on), billing integration, personalization, video delivery capability, content management system, household management, toolbar and television listings. Synacor, Inc. is headquartered in Buffalo, New York. “

Several other research firms have also weighed in on SYNC. ValuEngine upgraded shares of Synacor from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Canaccord Genuity cut their price objective on shares of Synacor from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $5.00.

Synacor (SYNC) traded down $0.10 during trading hours on Friday, hitting $2.00. 363,601 shares of the company traded hands, compared to its average volume of 157,586. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $81.24, a price-to-earnings ratio of -5.13 and a beta of 0.65. Synacor has a 1-year low of $1.95 and a 1-year high of $4.25.

Synacor (NASDAQ:SYNC) last posted its earnings results on Tuesday, November 14th. The information services provider reported ($0.02) earnings per share for the quarter. Synacor had a negative net margin of 9.87% and a negative return on equity of 31.12%. equities research analysts forecast that Synacor will post -0.3 EPS for the current year.

Several large investors have recently made changes to their positions in SYNC. Dimensional Fund Advisors LP grew its position in shares of Synacor by 161.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 41,978 shares of the information services provider’s stock valued at $113,000 after buying an additional 25,929 shares during the last quarter. Northern Trust Corp grew its position in Synacor by 27.5% in the 2nd quarter. Northern Trust Corp now owns 59,744 shares of the information services provider’s stock worth $218,000 after purchasing an additional 12,875 shares during the last quarter. Prudential Financial Inc. bought a new position in Synacor in the 2nd quarter worth about $274,000. UBS Oconnor LLC bought a new position in Synacor in the 2nd quarter worth about $373,000. Finally, Goldman Sachs Group Inc. grew its position in Synacor by 49.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 133,078 shares of the information services provider’s stock worth $486,000 after purchasing an additional 44,319 shares during the last quarter. 30.05% of the stock is owned by institutional investors and hedge funds.

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About Synacor

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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