102,125 Shares in Synacor, Inc. (SYNC) Acquired by UBS Oconnor LLC
UBS Oconnor LLC acquired a new position in shares of Synacor, Inc. (NASDAQ:SYNC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 102,125 shares of the information services provider’s stock, valued at approximately $373,000. UBS Oconnor LLC owned about 0.27% of Synacor at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SYNC. Boston Partners acquired a new position in Synacor in the second quarter worth $1,122,000. Wellington Management Group LLP raised its holdings in shares of Synacor by 43.5% during 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 purchasing an additional 325,700 shares during the period. S Squared Technology LLC acquired a new stake in shares of Synacor during the second quarter worth $1,168,000. Northpointe Capital LLC acquired a new stake in shares of Synacor during the second quarter worth $914,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Synacor by 9.7% during the second quarter. Acadian Asset Management LLC now owns 85,433 shares of the information services provider’s stock worth $312,000 after purchasing an additional 7,576 shares during the period. Hedge funds and other institutional investors own 28.08% of the company’s stock.
Synacor, Inc. (NASDAQ SYNC) opened at 2.65 on Wednesday. The company has a 50-day moving average of $2.58 and a 200-day moving average of $3.33. Synacor, Inc. has a 12 month low of $2.30 and a 12 month high of $4.25. The company’s market cap is $102.47 million.
Synacor (NASDAQ:SYNC) last announced its earnings results on Wednesday, August 9th. The information services provider reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $31.22 million for 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%. Synacor’s revenue was up 2.4% compared to the same quarter last year. Analysts predict that Synacor, Inc. will post ($0.32) EPS for the current year.
SYNC has been the topic of a number of recent research reports. ValuEngine upgraded shares of Synacor from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Rosenblatt Securities restated a “buy” rating and issued a $5.50 target price on shares of Synacor in a research note on Monday, June 12th. Craig Hallum downgraded Synacor from a “buy” rating to a “hold” rating and lifted their target price for the company from $3.55 to $4.00 in a research note on Thursday, August 10th. Finally, Canaccord Genuity lowered their target price on Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus 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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