New Jersey Better Educational Savings Trust increased its position in shares of Synacor, Inc. (NASDAQ:SYNC) by 22.0% during the second quarter, Holdings Channel reports. The firm owned 122,000 shares of the information services provider’s stock after buying an additional 22,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in Synacor were worth $445,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SYNC. EAM Investors LLC bought a new stake in shares of Synacor during the first quarter worth about $593,000. Wellington Management Group LLP raised its stake in shares of Synacor by 43.5% in 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 buying an additional 325,700 shares during the period. Diversified Investment Strategies LLC raised its stake in shares of Synacor by 2.4% in the first quarter. Diversified Investment Strategies LLC now owns 523,500 shares of the information services provider’s stock worth $2,173,000 after buying an additional 12,500 shares during the period. Renaissance Technologies LLC raised its stake in shares of Synacor by 1.4% in the first quarter. Renaissance Technologies LLC now owns 1,160,600 shares of the information services provider’s stock worth $4,816,000 after buying an additional 16,400 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 worth $195,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 14.43% of the company’s stock.

Shares of Synacor, Inc. (NASDAQ:SYNC) opened at 2.40 on Friday. The company’s 50-day moving average is $3.64 and its 200 day moving average is $3.47. The firm’s market cap is $91.25 million. Synacor, Inc. has a 1-year low of $2.35 and a 1-year high of $4.25.

Synacor (NASDAQ:SYNC) last released its quarterly earnings data on Wednesday, August 9th. The information services provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $31.22 million during the quarter, compared to the consensus estimate of $29.43 million. Synacor had a negative net margin of 13.14% and a negative return on equity of 42.68%. Synacor’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Synacor, Inc. will post ($0.20) EPS for the current fiscal year.

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A number of equities research analysts have recently issued reports on SYNC shares. Zacks Investment Research upgraded shares of Synacor from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Wednesday, May 10th. Rosenblatt Securities restated a “buy” rating and issued a $5.50 target price on shares of Synacor in a research note on Tuesday, April 18th. ValuEngine lowered shares of Synacor from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. TheStreet lowered shares of Synacor from a “c-” rating to a “d” rating in a research note on Thursday, May 11th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $5.50 price objective on shares of Synacor in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Synacor presently has an average rating of “Hold” and a consensus price target of $5.00.

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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Institutional Ownership by Quarter for Synacor (NASDAQ:SYNC)

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