Insider Buying: Synacor, Inc. (SYNC) CFO Acquires 10,000 Shares of Stock

Synacor, Inc. (NASDAQ:SYNC) CFO William John Stuart bought 10,000 shares of the stock in a transaction on Monday, August 14th. The stock was purchased at an average cost of $2.50 per share, with a total value of $25,000.00. Following the completion of the purchase, the chief financial officer now directly owns 30,000 shares in the company, valued at approximately $75,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Synacor, Inc. (SYNC) traded down 3.92% during mid-day trading on Thursday, hitting $2.45. 206,119 shares of the stock traded hands. The stock has a 50-day moving average of $3.52 and a 200-day moving average of $3.45. The company’s market cap is $94.74 million. Synacor, Inc. has a 52 week low of $2.35 and a 52 week high of $4.25.

Synacor (NASDAQ:SYNC) last released its quarterly earnings data on Wednesday, August 9th. The information services provider reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. The firm had revenue of $31.22 million for the quarter, compared to analyst estimates of $29.43 million. Synacor had a negative net margin of 13.14% and a negative return on equity of 39.21%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Synacor, Inc. will post ($0.32) EPS for the current year.

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Several analysts have commented on SYNC shares. Rosenblatt Securities reaffirmed a “buy” rating on shares of Synacor in a research note on Thursday, May 11th. TheStreet cut shares of Synacor from a “c-” rating to a “d” rating in a research note on Thursday, May 11th. ValuEngine cut shares of Synacor from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Canaccord Genuity lowered their target price on shares of Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Synacor from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Wednesday, May 10th. One investment 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. The company currently has a consensus rating of “Hold” and an average price target of $5.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cowen Prime Services LLC raised its position in Synacor by 52.7% in the first quarter. Cowen Prime Services LLC now owns 35,053 shares of the information services provider’s stock valued at $145,000 after buying an additional 12,100 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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. Northern Trust Corp raised its position in Synacor by 27.5% in the second quarter. Northern Trust Corp now owns 59,744 shares of the information services provider’s stock valued at $218,000 after buying an additional 12,875 shares in the last quarter. Prudential Financial Inc. bought a new position in Synacor during the second quarter valued at $274,000. Finally, Acadian Asset Management LLC raised its position in 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. Hedge funds and other institutional investors own 16.20% of the company’s stock.

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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