Insider Buying: Synacor Inc (SYNC) CEO Buys 15,000 Shares of Stock

Synacor Inc (NASDAQ:SYNC) CEO Himesh Bhise purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average cost of $1.56 per share, for a total transaction of $23,400.00. Following the completion of the acquisition, the chief executive officer now owns 41,000 shares in the company, valued at approximately $63,960. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:SYNC traded up $0.09 during trading hours on Thursday, reaching $1.64. The stock had a trading volume of 86,320 shares, compared to its average volume of 63,619. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.26 and a quick ratio of 1.26. Synacor Inc has a 52 week low of $1.40 and a 52 week high of $2.50. The company has a market cap of $64.06 million, a price-to-earnings ratio of -12.62 and a beta of 0.43.

Synacor (NASDAQ:SYNC) last released its quarterly earnings data on Wednesday, March 13th. The information services provider reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Synacor had a negative return on equity of 10.88% and a negative net margin of 5.20%. The business had revenue of $39.40 million for the quarter. As a group, analysts anticipate that Synacor Inc will post -0.02 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV increased its position in shares of Synacor by 62.5% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 19,500 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 7,500 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in Synacor during the 1st quarter valued at $38,000. Punch & Associates Investment Management Inc. boosted its holdings in Synacor by 28.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 160,000 shares of the information services provider’s stock valued at $251,000 after acquiring an additional 35,000 shares during the period. NJ State Employees Deferred Compensation Plan boosted its holdings in Synacor by 4.8% during the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 220,000 shares of the information services provider’s stock valued at $345,000 after acquiring an additional 10,000 shares during the period. Finally, Cowen Prime Services LLC boosted its holdings in Synacor by 5.8% during the 4th quarter. Cowen Prime Services LLC now owns 330,225 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 18,074 shares during the period. 26.65% of the stock is currently owned by institutional investors and hedge funds.

Separately, ValuEngine raised Synacor from a “hold” rating to a “buy” rating in a report on Monday, April 1st.

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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 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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