SeaChange International (NASDAQ:SEAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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. “
Other equities analysts have also recently issued research reports about the company. TheStreet cut SeaChange International from a “c-” rating to a “d+” rating in a report on Monday, August 27th. BWS Financial reduced their price target on SeaChange International to $4.00 and set a “buy” rating for the company in a report on Wednesday, August 22nd. Finally, Lake Street Capital cut SeaChange International from a “buy” rating to a “hold” rating and reduced their price target for the stock from $4.00 to $2.00 in a report on Tuesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $3.56.
SeaChange International (NASDAQ:SEAC) last announced its quarterly earnings data on Wednesday, September 5th. The software maker reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.01. The company had revenue of $11.90 million during the quarter, compared to analysts’ expectations of $12.01 million. SeaChange International had a negative return on equity of 9.38% and a net margin of 7.99%. On average, sell-side analysts expect that SeaChange International will post -0.25 earnings per share for the current fiscal year.
In related news, CEO Edward Terino acquired 50,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was purchased at an average cost of $1.73 per share, for a total transaction of $86,500.00. Following the completion of the transaction, the chief executive officer now directly owns 371,043 shares of the company’s stock, valued at approximately $641,904.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Royce E. Wilson acquired 28,500 shares of the business’s stock in a transaction on Monday, September 10th. The shares were bought at an average price of $1.71 per share, with a total value of $48,735.00. Following the completion of the transaction, the director now directly owns 160,360 shares of the company’s stock, valued at $274,215.60. The disclosure for this purchase can be found here. Insiders have purchased 88,500 shares of company stock valued at $152,935 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of SEAC. JPMorgan Chase & Co. lifted its position in SeaChange International by 10,478.7% during the first quarter. JPMorgan Chase & Co. now owns 253,888 shares of the software maker’s stock worth $688,000 after acquiring an additional 251,488 shares during the last quarter. California Public Employees Retirement System lifted its position in SeaChange International by 21.0% during the first quarter. California Public Employees Retirement System now owns 146,643 shares of the software maker’s stock worth $397,000 after acquiring an additional 25,443 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 326,752 shares during the last quarter. Acadian Asset Management LLC lifted its position in SeaChange International by 200.0% during the second quarter. Acadian Asset Management LLC now owns 285,437 shares of the software maker’s stock worth $976,000 after acquiring an additional 190,303 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SeaChange International during the second quarter worth approximately $107,000. Hedge funds and other institutional investors own 72.75% 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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