Synacor (NASDAQ:SYNC) released its earnings results on Thursday. The information services provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06), Morningstar.com reports. The firm had revenue of $35.64 million for the quarter. Synacor had a negative net margin of 3.18% and a negative return on equity of 11.18%. Synacor updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.
Shares of NASDAQ:SYNC traded down $0.17 during midday trading on Friday, reaching $1.59. The company’s stock had a trading volume of 410,260 shares, compared to its average volume of 111,923. The company has a market capitalization of $68.97 million, a PE ratio of -5.89 and a beta of 0.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.28 and a quick ratio of 1.28. Synacor has a 12-month low of $1.35 and a 12-month high of $2.70.
SYNC has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Synacor from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 9th. ValuEngine raised shares of Synacor from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Synacor in a research report on Friday. Finally, UBS Group downgraded shares of Synacor from a “buy” rating to a “neutral” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Synacor currently has an average rating of “Hold” and an average price target of $3.50.
Several large investors have recently added to or reduced their stakes in SYNC. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Synacor in the 2nd quarter worth about $380,000. Cowen Prime Services LLC boosted its stake in Synacor by 47.7% in the 2nd quarter. Cowen Prime Services LLC now owns 309,851 shares of the information services provider’s stock worth $620,000 after purchasing an additional 100,094 shares in the last quarter. Raffles Associates LP bought a new position in Synacor in the 2nd quarter worth about $160,000. Finally, Renaissance Technologies LLC boosted its stake in Synacor by 5.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,379,300 shares of the information services provider’s stock worth $2,759,000 after purchasing an additional 75,700 shares in the last quarter. 26.57% of the stock is currently owned by hedge funds and other institutional investors.
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Synacor, Inc operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation.
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