Synacor, Inc. (SYNC) Shares Sold by Diversified Investment Strategies LLC
Diversified Investment Strategies LLC lowered its position in shares of Synacor, Inc. (NASDAQ:SYNC) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 518,300 shares of the information services provider’s stock after selling 5,200 shares during the period. Synacor accounts for 1.8% of Diversified Investment Strategies LLC’s portfolio, making the stock its 17th largest position. Diversified Investment Strategies LLC owned approximately 1.36% of Synacor worth $1,892,000 at the end of the most recent quarter.
A number of other large investors also recently 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 buying an additional 16,400 shares during the period. Wellington Management Group LLP raised its stake in shares of Synacor by 43.5% in the first quarter. Wellington Management Group LLP now owns 1,073,900 shares of the information services provider’s stock worth $4,457,000 after buying an additional 325,700 shares during the period. Boston Partners bought a new stake in shares of Synacor during the second quarter worth about $1,122,000. Northpointe Capital LLC bought a new stake in shares of Synacor during the second quarter worth about $914,000. Finally, EAM Investors LLC bought a new stake in shares of Synacor during the first quarter worth about $593,000. 28.08% of the stock is owned by institutional investors and hedge funds.
Synacor, Inc. (SYNC) remained flat at $2.40 on Wednesday. 4,489 shares of the company traded hands. Synacor, Inc. has a 52-week low of $2.35 and a 52-week high of $4.25. The company’s 50 day moving average price is $3.30 and its 200-day moving average price is $3.42. The company’s market capitalization is $92.80 million.
Synacor (NASDAQ:SYNC) last announced its quarterly earnings data on Wednesday, August 9th. The information services provider reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. The business had revenue of $31.22 million during the quarter, compared to the consensus estimate of $29.43 million. Synacor had a negative return on equity of 39.21% and a negative net margin of 13.14%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts predict that Synacor, Inc. will post ($0.32) EPS for the current fiscal year.
SYNC has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating on shares of Synacor in a report on Thursday, May 11th. TheStreet lowered shares of Synacor from a “c-” rating to a “d” rating in a report on Thursday, May 11th. ValuEngine lowered shares of Synacor from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Canaccord Genuity cut their price objective on shares of Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Synacor from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.00.
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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