Synacor (SYNC) Rating Lowered to Neutral at UBS Group

Synacor (NASDAQ:SYNC) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, The Fly reports.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Synacor from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. ValuEngine upgraded shares of Synacor from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st.

SYNC stock opened at $1.76 on Friday. The stock has a market cap of $68.97 million, a price-to-earnings ratio of -6.52 and a beta of 0.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.28 and a quick ratio of 1.28. Synacor has a 1 year low of $1.35 and a 1 year high of $2.70.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Synacor by 5.8% during the second 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 during the period. Raffles Associates LP bought a new position in shares of Synacor during the second quarter worth approximately $160,000. Cowen Prime Services LLC increased its holdings in shares of Synacor by 47.7% during the second 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 during the period. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Synacor during the second quarter worth approximately $380,000. 26.57% of the stock is currently owned by institutional investors.

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.

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