Zacks Investment Research lowered shares of SeaChange International (NASDAQ:SEAC) from a hold rating to a sell rating in a research note released on Saturday, September 15th.
According to Zacks, “SeaChange International, Inc. develops, markets and supports products to manage, store and distribute digital video for television operators, broadcast and telecommunications companies. The company’s products utilize its proprietary distributed application software and standard industry components to automate the management and distribution of short- and long-form video streams including advertisements, movies, news updates and other video programming requiring precise, accurate and continuous execution. “
A number of other brokerages also recently weighed in on SEAC. ValuEngine raised shares of SeaChange International from a hold rating to a buy rating in a research note on Monday, July 2nd. TheStreet raised shares of SeaChange International from a d rating to a c- rating in a research note on Thursday, June 7th. Lake Street Capital downgraded shares of SeaChange International from a buy rating to a hold rating and lowered their target price for the stock from $4.00 to $2.00 in a research note on Tuesday, August 21st. Finally, BWS Financial lowered their target price on shares of SeaChange International to $4.00 and set a buy rating for the company in a research note on Wednesday, August 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $3.56.
NASDAQ:SEAC traded up $0.01 on Friday, hitting $1.70. The company had a trading volume of 281,339 shares, compared to its average volume of 232,257. The company has a market cap of $63.99 million, a price-to-earnings ratio of 15.45 and a beta of 0.17. SeaChange International has a 52 week low of $1.38 and a 52 week high of $4.03.
SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings data on Wednesday, September 5th. The software maker reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.01. The business had revenue of $11.90 million during the quarter, compared to the consensus estimate of $12.01 million. SeaChange International had a net margin of 7.99% and a negative return on equity of 9.38%. As a group, equities analysts predict that SeaChange International will post -0.25 earnings per share for the current fiscal year.
In related news, Director Royce E. Wilson purchased 28,500 shares of SeaChange International stock in a transaction on Monday, September 10th. The stock was acquired at an average cost of $1.71 per share, for a total transaction of $48,735.00. Following the completion of the acquisition, the director now owns 160,360 shares of the company’s stock, valued at approximately $274,215.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward Terino purchased 50,000 shares of SeaChange International stock in a transaction on Tuesday, September 11th. The stock was bought at an average price of $1.73 per share, with a total value of $86,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 371,043 shares of the company’s stock, valued at approximately $641,904.39. The disclosure for this purchase can be found here. Insiders acquired 88,500 shares of company stock valued at $152,935 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Ariel Investments LLC boosted its holdings in SeaChange International by 32.2% during the second quarter. Ariel Investments LLC now owns 3,417,075 shares of the software maker’s stock worth $11,686,000 after purchasing an additional 833,252 shares during the last quarter. Alambic Investment Management L.P. boosted its holdings in SeaChange International by 649.8% during the first quarter. Alambic Investment Management L.P. now owns 710,353 shares of the software maker’s stock worth $1,925,000 after purchasing an additional 615,614 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in SeaChange International by 1,332.8% during the second quarter. Russell Investments Group Ltd. now owns 543,025 shares of the software maker’s stock worth $1,858,000 after purchasing an additional 505,125 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in SeaChange International by 1,950.5% during the first quarter. Hillsdale Investment Management Inc. now owns 373,200 shares of the software maker’s stock worth $1,011,000 after purchasing an additional 355,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in SeaChange International by 18.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,129,476 shares of the software maker’s stock worth $5,771,000 after purchasing an additional 326,752 shares during the last quarter. Hedge funds and other institutional investors own 73.64% of the company’s stock.
About SeaChange International
SeaChange International, Inc provides multiscreen, advertising, and premium over the top (OTT) video products and services that facilitate the aggregation, licensing, management, and distribution of video and television advertising content worldwide. It offers video products, including SeaChange Adrenalin, a multiscreen video back office platform that enables service providers to manage, monetize, and deliver a seamless viewing experience across televisions, personal computers (PCs), tablets, smartphones, and other IP-enabled devices; and SeaChange AssetFlow, a content management solution, which is used to receive, manage, and publish content for viewing on televisions, tablets, PCs, and other consumer devices, as well as SeaChange Rave, an integrated platform.
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