SeaChange International (NASDAQ:SEAC) Stock Rating Upgraded by Zacks Investment Research

SeaChange International (NASDAQ:SEAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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. “

Separately, ValuEngine raised shares of SeaChange International from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $3.00.

Shares of NASDAQ SEAC traded down $0.04 during midday trading on Thursday, reaching $2.01. The company’s stock had a trading volume of 104,041 shares, compared to its average volume of 295,213. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.06 and a quick ratio of 2.03. SeaChange International has a fifty-two week low of $1.13 and a fifty-two week high of $3.09. The company has a market cap of $73.59 million, a PE ratio of -5.15 and a beta of 0.89. The stock has a 50 day simple moving average of $1.66.

SeaChange International (NASDAQ:SEAC) last posted its quarterly earnings data on Thursday, June 6th. The software maker reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.10). SeaChange International had a negative net margin of 77.53% and a negative return on equity of 30.21%. The business had revenue of $8.49 million during the quarter. On average, research analysts predict that SeaChange International will post -0.31 EPS for the current fiscal year.

In other news, insider Mark J. Bonney bought 126,749 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average cost of $1.50 per share, with a total value of $190,123.50. Following the completion of the purchase, the insider now owns 351,527 shares of the company’s stock, valued at $527,290.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert M. Pons bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was purchased at an average cost of $1.47 per share, with a total value of $29,400.00. Following the completion of the purchase, the director now directly owns 118,039 shares of the company’s stock, valued at approximately $173,517.33. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. GMT Capital Corp bought a new position in SeaChange International during the first quarter worth $51,000. SG Capital Management LLC bought a new position in SeaChange International during the second quarter worth $97,000. Managed Asset Portfolios LLC boosted its position in SeaChange International by 7.8% during the second quarter. Managed Asset Portfolios LLC now owns 151,095 shares of the software maker’s stock worth $216,000 after purchasing an additional 10,870 shares during the period. Finally, Eidelman Virant Capital boosted its position in SeaChange International by 91.8% during the first quarter. Eidelman Virant Capital now owns 633,000 shares of the software maker’s stock worth $841,000 after purchasing an additional 303,000 shares during the period. 40.49% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Do back-end load funds outperform no-load funds?

Get a free copy of the Zacks research report on SeaChange International (SEAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SeaChange International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SeaChange International and related companies with MarketBeat.com's FREE daily email newsletter.