Synacor Inc. (SYNC) Releases Earnings Results, Beats Estimates By $0.08 EPS
Synacor Inc. (NASDAQ:SYNC) issued its quarterly earnings data on Monday. The company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.08. Synacor had a negative net margin of 4.71% and a negative return on equity of 12.44%. The business earned $31.70 million during the quarter, compared to analysts’ expectations of $30.69 million.
Synacor (NASDAQ:SYNC) opened at 2.75 on Tuesday. The stock’s 50 day moving average is $2.86 and its 200-day moving average is $2.94. The stock’s market capitalization is $83.30 million. Synacor has a 52 week low of $1.33 and a 52 week high of $3.98.
Separately, Ladenburg Thalmann started coverage on shares of Synacor in a research note on Tuesday, October 18th. They set a “buy” rating for the company.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Global Advisors LLC purchased a new position in Synacor during the third quarter worth about $178,000. Spark Investment Management LLC raised its position in Synacor by 4.8% in the third quarter. Spark Investment Management LLC now owns 482,100 shares of the company’s stock worth $1,402,000 after buying an additional 22,200 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in Synacor during the third quarter worth about $144,000. Vanguard Group Inc. raised its position in Synacor by 86.5% in the second quarter. Vanguard Group Inc. now owns 629,632 shares of the company’s stock worth $1,939,000 after buying an additional 291,976 shares during the last quarter. Finally, Alambic Investment Management L.P. purchased a new position in Synacor during the second quarter worth about $478,000. 12.23% of the stock is owned by hedge funds and other institutional investors.
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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