Boston Partners bought a new stake in shares of Synacor, Inc. (NASDAQ:SYNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 307,426 shares of the information services provider’s stock, valued at approximately $1,122,000. Boston Partners owned 0.81% of Synacor at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. EAM Investors LLC acquired a new stake in shares of Synacor during the first quarter valued at approximately $593,000. Wellington Management Group LLP increased 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 valued at $4,457,000 after buying an additional 325,700 shares in the last quarter. Diversified Investment Strategies LLC increased its stake in shares of Synacor by 2.4% in the first quarter. Diversified Investment Strategies LLC now owns 523,500 shares of the information services provider’s stock valued at $2,173,000 after buying an additional 12,500 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Synacor by 9.7% in the second quarter. Acadian Asset Management LLC now owns 85,433 shares of the information services provider’s stock valued at $312,000 after buying an additional 7,576 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Synacor by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 47,048 shares of the information services provider’s stock valued at $195,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.
Synacor, Inc. (NASDAQ:SYNC) opened at 2.40 on Friday. Synacor, Inc. has a 1-year low of $2.35 and a 1-year high of $4.25. The stock has a 50 day moving average price of $3.33 and a 200-day moving average price of $3.42. The stock’s market capitalization is $92.80 million.
Synacor (NASDAQ:SYNC) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Synacor had a negative net margin of 13.14% and a negative return on equity of 39.21%. The company had revenue of $31.22 million for the quarter, compared to the consensus estimate of $29.43 million. Synacor’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that Synacor, Inc. will post ($0.32) EPS for the current year.
SYNC has been the topic of several recent analyst reports. Zacks Investment Research upgraded Synacor from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Wednesday, May 10th. Rosenblatt Securities restated a “buy” rating on shares of Synacor in a research note on Thursday, May 11th. Craig Hallum downgraded Synacor from a “buy” rating to a “hold” rating and raised their price target for the stock from $3.55 to $4.00 in a research note on Thursday, August 10th. ValuEngine downgraded Synacor from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, TheStreet downgraded Synacor from a “c-” rating to a “d” rating in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Synacor currently has a consensus rating of “Hold” and an average price target of $5.00.
About Synacor
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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