Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here is What Hedge Funds Think About Synchronoss Technologies, Inc. (SNCR)

Many investors, including Carl Icahn or Stan Druckenmiller, have been saying for a while now that the current market is overvalued due to a low interest rate environment that leads to companies swapping their equity for debt and focusing mostly on short-term performance such as beating the quarterly earnings estimates. In the third quarter, many investors lost money due to unpredictable events such as the concerns over Valeant’s drug pricing policy that led to an overall drop among pharma stocks. Nevertheless, many of the stocks that tanked in the third quarter still sport strong fundamentals and their decline was more related to the general market sentiment rather than their individual performance and hedge funds kept their bullish stance. In this article we will find out how hedge fund sentiment to Synchronoss Technologies, Inc. (NASDAQ:SNCR) changed recently.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) shares haven’t seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 21 hedge funds’ portfolios at the end of September. At the end of this article we will also compare SNCR to other stocks including Greatbatch Inc (NYSE:GB), Concordia Healthcare Corp (NASDAQ:CXRX), and Fidelity & Guaranty Life (NYSE:FGL) to get a better sense of its popularity.

Follow Synchronoss Technologies Inc (NASDAQ:SNCR)
Trade (NASDAQ:SNCR) Now!

Now, we’re going to take a peek at the recent action regarding Synchronoss Technologies, Inc. (NASDAQ:SNCR).

How have hedgies been trading Synchronoss Technologies, Inc. (NASDAQ:SNCR)?

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Lee Munder Capital Group, managed by Lee Munder, holds the most valuable position in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Lee Munder Capital Group has a $55 million position in the stock, comprising 1.2% of its 13F portfolio. The second most bullish fund manager is Millennium Management, managed by Israel Englander, which holds a $10.8 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Remaining hedge funds and institutional investors with similar optimism comprise Glenn Russell Dubin’s Highbridge Capital Management, Peter Muller’s PDT Partners and Jerome Debs’s Bodri Capital Management.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.