SeaChange International (SEAC) Trading 7.7% Higher

SeaChange International (NASDAQ:SEAC) shares traded up 7.7% during mid-day trading on Monday . The stock traded as high as $1.81 and last traded at $1.81. 793,159 shares changed hands during mid-day trading, an increase of 272% from the average session volume of 213,425 shares. The stock had previously closed at $1.68.

A number of analysts recently weighed in on SEAC shares. Lake Street Capital cut shares of SeaChange International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $4.00 to $2.00 in a research note on Tuesday, August 21st. Zacks Investment Research upgraded shares of SeaChange International from a “sell” rating to a “hold” rating in a research note on Saturday, September 29th. BWS Financial decreased their price target on shares of SeaChange International to $4.00 and set a “buy” rating for the company in a research note on Wednesday, August 22nd. Finally, TheStreet cut shares of SeaChange International from a “c-” rating to a “d+” rating in a research note on Monday, August 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. SeaChange International currently has an average rating of “Buy” and a consensus target price of $3.56.

The company has a market capitalization of $60.06 million, a price-to-earnings ratio of 16.45 and a beta of 0.05.

SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings results on Wednesday, September 5th. The software maker reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The firm had revenue of $11.90 million during the quarter, compared to analysts’ expectations of $12.01 million. SeaChange International had a net margin of 7.99% and a negative return on equity of 9.38%. Equities analysts predict that SeaChange International will post -0.25 earnings per share for the current year.

In other news, CEO Edward Terino bought 50,000 shares of SeaChange International stock in a transaction dated Tuesday, September 11th. The stock was bought at an average price of $1.73 per share, for a total transaction of $86,500.00. Following the purchase, the chief executive officer now owns 371,043 shares of the company’s stock, valued at $641,904.39. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Royce E. Wilson bought 28,500 shares of SeaChange International stock in a transaction dated Monday, September 10th. The stock was purchased at an average price of $1.71 per share, with a total value of $48,735.00. Following the purchase, the director now directly owns 160,360 shares in the company, valued at approximately $274,215.60. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 88,500 shares of company stock valued at $152,935. 2.90% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in shares of SeaChange International by 200.0% in the second quarter. Acadian Asset Management LLC now owns 285,437 shares of the software maker’s stock worth $976,000 after buying an additional 190,303 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SeaChange International in the second quarter worth about $107,000. Russell Investments Group Ltd. increased its holdings in shares of SeaChange International by 1,332.8% in the second quarter. Russell Investments Group Ltd. now owns 543,025 shares of the software maker’s stock worth $1,858,000 after buying an additional 505,125 shares during the period. Segall Bryant & Hamill LLC increased its holdings in SeaChange International by 4.8% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,929,113 shares of the software maker’s stock valued at $6,598,000 after purchasing an additional 88,146 shares during the period. Finally, Spark Investment Management LLC increased its holdings in SeaChange International by 51.3% during the 2nd quarter. Spark Investment Management LLC now owns 128,000 shares of the software maker’s stock valued at $437,000 after purchasing an additional 43,400 shares during the period. Institutional investors own 62.79% of the company’s stock.

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SeaChange International Company Profile (NASDAQ:SEAC)

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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