Northpointe Capital LLC lifted its holdings in shares of Synacor, Inc. (NASDAQ:SYNC) by 558.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,649,151 shares of the information services provider’s stock after purchasing an additional 1,398,638 shares during the period. Northpointe Capital LLC owned 4.26% of Synacor worth $4,453,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Synacor by 1.4% in the first quarter. Renaissance Technologies LLC now owns 1,160,600 shares of the information services provider’s stock worth $4,816,000 after purchasing an additional 16,400 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Synacor by 43.5% during the first quarter. Wellington Management Group LLP now owns 1,073,900 shares of the information services provider’s stock valued at $4,457,000 after acquiring an additional 325,700 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Synacor by 4.1% during the second quarter. Vanguard Group Inc. now owns 706,887 shares of the information services provider’s stock valued at $2,580,000 after acquiring an additional 27,763 shares during the last quarter. S Squared Technology LLC purchased a new stake in shares of Synacor during the second quarter valued at approximately $1,168,000. Finally, Boston Partners purchased a new stake in shares of Synacor during the second quarter valued at approximately $1,122,000. Institutional investors own 31.33% of the company’s stock.
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Synacor, Inc. (SYNC) remained flat at $$2.45 during trading on Friday. 120,700 shares of the company were exchanged, compared to its average volume of 177,895. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. Synacor, Inc. has a 1 year low of $1.96 and a 1 year high of $4.25.
Synacor (NASDAQ:SYNC) last issued its quarterly earnings results on Wednesday, August 9th. The information services provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $31.22 million for the quarter, compared to analysts’ expectations of $29.43 million. Synacor had a negative return on equity of 39.21% and a negative net margin of 13.14%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. equities research analysts anticipate that Synacor, Inc. will post -0.19 earnings per share for the current year.
A number of research firms have issued reports on SYNC. ValuEngine raised Synacor from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Zacks Investment Research lowered Synacor from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Craig Hallum lowered Synacor from a “buy” rating to a “hold” rating and lifted their price objective for the company from $3.55 to $4.00 in a research note on Thursday, August 10th. Finally, Canaccord Genuity dropped their price objective on Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Synacor currently has an average rating of “Hold” and a consensus price target of $5.25.
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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