Zacks Investment Research lowered shares of Synacor (NASDAQ:SYNC) from a hold rating to a sell rating in a research report released on Saturday morning.
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. “
SYNC has been the subject of a number of other research reports. Canaccord Genuity reduced their price target on Synacor from $6.00 to $5.00 and set a buy rating for the company in a research report on Wednesday, November 15th. ValuEngine raised Synacor from a sell rating to a hold rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $5.00.
Synacor (SYNC) traded down $0.10 on Friday, reaching $2.00. The company had a trading volume of 364,111 shares, compared to its average volume of 157,586. The firm has a market capitalization of $77.37, a PE ratio of -5.13 and a beta of 0.65. Synacor has a 52-week low of $1.95 and a 52-week high of $4.25. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.07.
Synacor (NASDAQ:SYNC) last announced its quarterly earnings results on Tuesday, November 14th. The information services provider reported ($0.02) earnings per share for the quarter. Synacor had a negative return on equity of 31.12% and a negative net margin of 9.87%. research analysts forecast that Synacor will post -0.3 earnings per share for the current year.
Several large investors have recently made changes to their positions in SYNC. Dimensional Fund Advisors LP increased its stake in shares of Synacor by 161.6% in the third quarter. Dimensional Fund Advisors LP now owns 41,978 shares of the information services provider’s stock worth $113,000 after purchasing an additional 25,929 shares during the period. Northern Trust Corp increased its stake in shares of Synacor by 27.5% in the second 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 period. Prudential Financial Inc. bought a new position in shares of Synacor in the second quarter worth about $274,000. UBS Oconnor LLC bought a new position in shares of Synacor in the second quarter worth about $373,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Synacor by 49.9% in the second 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 period. 30.05% of the stock is owned by institutional investors.
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Synacor Company Profile
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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