Ladenburg Thalmann initiated coverage on shares of Synacor Inc. (NASDAQ:SYNC) in a research report released on Tuesday morning. The brokerage issued a buy rating on the stock.

Shares of Synacor (NASDAQ:SYNC) opened at 2.95 on Tuesday. Synacor has a 52 week low of $1.30 and a 52 week high of $3.98. The company’s market capitalization is $89.36 million. The firm’s 50-day moving average is $2.86 and its 200 day moving average is $2.74.

Synacor (NASDAQ:SYNC) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. The business earned $30.50 million during the quarter, compared to the consensus estimate of $30.50 million. Synacor had a negative net margin of 4.71% and a negative return on equity of 12.44%. On average, analysts anticipate that Synacor will post ($0.39) earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of SYNC. Spark Investment Management LLC boosted its stake in shares of Synacor by 155.8% in the second quarter. Spark Investment Management LLC now owns 459,900 shares of the company’s stock valued at $1,416,000 after buying an additional 280,100 shares during the period. Vanguard Group Inc. boosted its stake in shares of Synacor by 86.5% in the second quarter. Vanguard Group Inc. now owns 629,632 shares of the company’s stock valued at $1,939,000 after buying an additional 291,976 shares during the period. Alambic Investment Management L.P. acquired a new stake in shares of Synacor during the second quarter valued at $478,000. Bank of New York Mellon Corp boosted its stake in shares of Synacor by 43.0% in the second quarter. Bank of New York Mellon Corp now owns 52,460 shares of the company’s stock valued at $161,000 after buying an additional 15,786 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Synacor by 2,566.6% in the second quarter. Acadian Asset Management LLC now owns 227,433 shares of the company’s stock valued at $701,000 after buying an additional 218,904 shares during the period. Institutional investors and hedge funds own 12.60% of the company’s stock.

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.

5 Day Chart for NASDAQ:SYNC

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