Synacor (SYNC) Given Neutral Rating at Rosenblatt Securities

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Rosenblatt Securities reissued their neutral rating on shares of Synacor (NASDAQ:SYNC) in a research note issued to investors on Friday morning, Marketbeat Ratings reports.

Other analysts have also recently issued research reports about the stock. UBS Group cut shares of Synacor from a buy rating to a neutral rating in a report on Friday. Zacks Investment Research cut shares of Synacor from a buy rating to a hold rating in a research note on Thursday, July 26th. Finally, ValuEngine upgraded shares of Synacor from a hold rating to a buy rating in a research note on Thursday, November 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $3.50.

Shares of SYNC stock traded down $0.17 during mid-day trading on Friday, reaching $1.59. 410,260 shares of the company’s stock traded hands, compared to its average volume of 79,551. Synacor has a 12 month low of $1.35 and a 12 month high of $2.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.28 and a current ratio of 1.28.

Synacor (NASDAQ:SYNC) last announced its earnings results on Thursday, November 8th. The information services provider reported ($0.06) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.06). Synacor had a negative net margin of 3.18% and a negative return on equity of 11.18%. The firm had revenue of $35.64 million for the quarter. As a group, research analysts expect that Synacor will post -0.1 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in SYNC. NJ State Employees Deferred Compensation Plan bought a new position in Synacor in the 2nd quarter worth about $380,000. Cowen Prime Services LLC boosted its stake in Synacor by 47.7% in the 2nd quarter. Cowen Prime Services LLC now owns 309,851 shares of the information services provider’s stock worth $620,000 after purchasing an additional 100,094 shares in the last quarter. Raffles Associates LP bought a new position in Synacor in the 2nd quarter worth about $160,000. Finally, Renaissance Technologies LLC boosted its stake in Synacor by 5.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,379,300 shares of the information services provider’s stock worth $2,759,000 after purchasing an additional 75,700 shares in the last quarter. Institutional investors own 26.57% of the company’s stock.

Synacor Company Profile

Synacor, Inc operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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