Synacor’s (SYNC) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Synacor (NASDAQ:SYNC) in a research note issued to investors on Thursday, AnalystRatings.com reports.

SYNC has been the topic of several other reports. Craig Hallum downgraded shares of Synacor to a hold rating in a research note on Friday, August 9th. ValuEngine raised shares of Synacor from a hold rating to a buy rating in a research report on Thursday, August 1st.

Synacor stock traded up $0.04 during mid-day trading on Thursday, hitting $1.52. 47,400 shares of the company traded hands, compared to its average volume of 87,529. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.09. Synacor has a one year low of $1.28 and a one year high of $1.94. The stock has a fifty day moving average price of $1.49 and a 200-day moving average price of $1.52.

Synacor (NASDAQ:SYNC) last issued its earnings results on Wednesday, August 7th. The information services provider reported ($0.05) EPS for the quarter. Synacor had a negative return on equity of 10.63% and a negative net margin of 5.28%. The firm had revenue of $31.85 million during the quarter.

A number of institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC increased its position in Synacor by 809.3% during the 2nd quarter. Acadian Asset Management LLC now owns 48,918 shares of the information services provider’s stock valued at $76,000 after purchasing an additional 43,538 shares during the period. Renaissance Technologies LLC increased its position in Synacor by 6.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,613,711 shares of the information services provider’s stock valued at $2,517,000 after purchasing an additional 95,611 shares during the period. Dalton Greiner Hartman Maher & Co. purchased a new position in Synacor during the 3rd quarter valued at $202,000. Raffles Associates LP increased its position in Synacor by 93.4% during the 2nd quarter. Raffles Associates LP now owns 310,539 shares of the information services provider’s stock valued at $484,000 after purchasing an additional 150,000 shares during the period. Finally, Emancipation Management LLC increased its position in Synacor by 129.1% during the 2nd quarter. Emancipation Management LLC now owns 987,526 shares of the information services provider’s stock valued at $1,541,000 after purchasing an additional 556,522 shares during the period. 27.98% of the stock is currently owned by institutional investors and hedge funds.

About Synacor

Synacor, Inc operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises in the United States and internationally. 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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