B. Riley Financial, Inc. Acquires 69,183 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) Stock
Synchronoss Technologies, Inc. (NASDAQ:SNCR – Get Rating) major shareholder B. Riley Financial, Inc. acquired 69,183 shares of Synchronoss Technologies stock in a transaction that occurred on Monday, May 23rd. The stock was bought at an average price of $1.50 per share, for a total transaction of $103,774.50. Following the completion of the acquisition, the insider now owns 11,878,289 shares in the company, valued at approximately $17,817,433.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
B. Riley Financial, Inc. also recently made the following trade(s):
- On Monday, May 16th, B. Riley Financial, Inc. acquired 397 shares of Synchronoss Technologies stock. The stock was bought at an average price of $1.40 per share, for a total transaction of $555.80.
- On Friday, May 13th, B. Riley Financial, Inc. acquired 135,906 shares of Synchronoss Technologies stock. The stock was purchased at an average price of $1.39 per share, for a total transaction of $188,909.34.
NASDAQ:SNCR traded down $0.01 during mid-day trading on Wednesday, hitting $1.43. The stock had a trading volume of 95,022 shares, compared to its average volume of 455,525. Synchronoss Technologies, Inc. has a twelve month low of $1.06 and a twelve month high of $3.99. The stock has a 50-day simple moving average of $1.52 and a two-hundred day simple moving average of $1.98. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $126.27 million, a PE ratio of -1.93 and a beta of 1.16.
Synchronoss Technologies (NASDAQ:SNCR – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The software maker reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $65.87 million for the quarter, compared to analyst estimates of $65.44 million. Synchronoss Technologies had a negative net margin of 4.96% and a positive return on equity of 0.52%. Sell-side analysts predict that Synchronoss Technologies, Inc. will post -0.04 EPS for the current fiscal year.
Separately, StockNews.com started coverage on Synchronoss Technologies in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $5.08.
A number of institutional investors and hedge funds have recently made changes to their positions in SNCR. State Street Corp boosted its position in shares of Synchronoss Technologies by 65.6% in the 1st quarter. State Street Corp now owns 266,858 shares of the software maker’s stock valued at $462,000 after purchasing an additional 105,669 shares during the period. Prelude Capital Management LLC boosted its stake in shares of Synchronoss Technologies by 7.3% during the first quarter. Prelude Capital Management LLC now owns 938,229 shares of the software maker’s stock worth $1,623,000 after buying an additional 63,607 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Synchronoss Technologies by 11.6% during the first quarter. Renaissance Technologies LLC now owns 376,829 shares of the software maker’s stock worth $652,000 after buying an additional 39,302 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Synchronoss Technologies in the 1st quarter valued at about $1,032,000. Finally, Invenire Partners LP increased its holdings in shares of Synchronoss Technologies by 35.1% in the first quarter. Invenire Partners LP now owns 1,075,917 shares of the software maker’s stock valued at $1,861,000 after purchasing an additional 279,448 shares during the period. 51.06% of the stock is owned by hedge funds and other institutional investors.
Synchronoss Technologies Company Profile (Get Rating)
Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company’s platforms, products, and solutions include content backup, view, manage, engage, transfer, and restore solutions in operating systems and devices; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; email solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions.
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