Concourse Capital Management Lowers stake in Synchronoss Technologies (SNCR)

Synchronoss Technologies (SNCR) : Concourse Capital Management reduced its stake in Synchronoss Technologies by 65.77% during the most recent quarter end. The investment management company now holds a total of 13,619 shares of Synchronoss Technologies which is valued at $507,580 after selling 26,170 shares in Synchronoss Technologies , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Synchronoss Technologies makes up approximately 0.31% of Concourse Capital Management’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp boosted its stake in SNCR in the latest quarter, The investment management firm added 8,209 additional shares and now holds a total of 13,323 shares of Synchronoss Technologies which is valued at $496,548. Synchronoss Technologies makes up approx 0.05% of Quantbot Technologies Lp’s portfolio.Ami Asset Management Corp reduced its stake in SNCR by selling 1,476 shares or 0.31% in the most recent quarter. The Hedge Fund company now holds 478,300 shares of SNCR which is valued at $17,553,610. Synchronoss Technologies makes up approx 1.17% of Ami Asset Management Corp’s portfolio.Simplex Trading reduced its stake in SNCR by selling 3,081 shares or 72.36% in the most recent quarter. The Hedge Fund company now holds 1,177 shares of SNCR which is valued at $42,278. Synchronoss Technologies makes up approx 0.01% of Simplex Trading’s portfolio. Vigilant Capital Management added SNCR to its portfolio by purchasing 155 company shares during the most recent quarter which is valued at $5,568. Beacon Financial Group added SNCR to its portfolio by purchasing 9,648 company shares during the most recent quarter which is valued at $339,320. Synchronoss Technologies makes up approx 0.07% of Beacon Financial Group’s portfolio.

Synchronoss Technologies closed down -0.41 points or -0.99% at $41.07 with 5,31,948 shares getting traded on Monday. Post opening the session at $41.48, the shares hit an intraday low of $40.03 and an intraday high of $41.5 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Synchronoss Technologies reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.53. The company had revenue of $161.49 million for the quarter, compared to analysts expectations of $157.01 million. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Synchronoss Technologies. Synchronoss Technologies was Initiated by Drexel Hamilton to “Buy” on Jun 1, 2016.

Synchronoss Technologies Inc. (Synchronoss) is a mobile innovation company that provides software-based cloud and activation solutions for connected devices to enterprise customers. The Company’s solutions include intelligent connectivity management and content synchronization backup and sharing service procurement provisioning activation and support that enable communications service providers (CSPs) cable operators/multi-services operators (MSOs) original equipment manufacturers (OEMs) with embedded connectivity multi-channel retailers and other customers. This includes automating subscriber activation order management upgrades service provisioning and connectivity and content management from any sales channel to any communication service (wireless or wireline) across any connected device type and managing the content transfer synchronization and share.

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