Synacor, Inc. (NASDAQ:SYNC) Shares Sold by Spark Investment Management LLC

Spark Investment Management LLC reduced its stake in shares of Synacor, Inc. (NASDAQ:SYNC) by 16.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 220,800 shares of the information services provider’s stock after selling 42,000 shares during the period. Spark Investment Management LLC’s holdings in Synacor were worth $805,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Acadian Asset Management LLC increased its position in shares of 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 during the last quarter. Renaissance Technologies LLC increased its position 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 valued at $4,816,000 after buying an additional 16,400 shares during the last quarter. Diversified Investment Strategies LLC increased its position 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 valued at $2,173,000 after buying an additional 12,500 shares during the last quarter. Wellington Management Group LLP increased its position 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 valued at $4,457,000 after buying an additional 325,700 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in shares of Synacor during the first quarter valued at approximately $593,000. 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 stock’s market capitalization is $91.25 million. Synacor, Inc. has a 12 month low of $2.35 and a 12 month high of $4.25. The firm’s 50-day moving average price is $3.64 and its 200-day moving average price is $3.47.

Synacor (NASDAQ:SYNC) last released its earnings results on Wednesday, August 9th. The information services provider reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.02. Synacor had a negative net margin of 12.80% and a negative return on equity of 39.99%. The business had revenue of $31.22 million for the quarter, compared to analyst estimates of $29.43 million. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Synacor, Inc. will post ($0.19) EPS for the current year.

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A number of equities research analysts recently commented on SYNC shares. Canaccord Genuity decreased their target price on Synacor from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday. Craig Hallum downgraded Synacor from a “buy” rating to a “hold” rating and boosted their target price for the stock from $3.55 to $4.00 in a research report on Thursday. ValuEngine downgraded Synacor from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 target price on shares of Synacor in a research report on Monday, June 12th. Finally, Zacks Investment Research downgraded Synacor from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.00.

About Synacor

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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