Traders Buy High Volume of SeaChange International Call Options (NASDAQ:SEAC)

SeaChange International, Inc. (NASDAQ:SEAC) was the target of unusually large options trading on Thursday. Stock investors bought 3,778 call options on the stock. This represents an increase of approximately 210% compared to the average daily volume of 1,218 call options.

In related news, Chairman Robert M. Pons bought 100,000 shares of the business’s stock in a transaction on Monday, April 19th. The stock was acquired at an average price of $1.04 per share, for a total transaction of $104,000.00. Following the purchase, the chairman now directly owns 407,815 shares in the company, valued at $424,127.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP raised its stake in SeaChange International by 427.1% during the fourth quarter. GSA Capital Partners LLP now owns 559,796 shares of the software maker’s stock valued at $784,000 after buying an additional 453,602 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of SeaChange International by 201.7% in the third quarter. Squarepoint Ops LLC now owns 159,525 shares of the software maker’s stock worth $139,000 after purchasing an additional 106,658 shares during the last quarter. State Street Corp grew its holdings in SeaChange International by 18.6% during the third quarter. State Street Corp now owns 403,603 shares of the software maker’s stock valued at $351,000 after purchasing an additional 63,400 shares during the period. Private Advisor Group LLC boosted its stake in shares of SeaChange International by 40.3% in the first quarter. Private Advisor Group LLC now owns 35,162 shares of the software maker’s stock worth $55,000 after acquiring an additional 10,101 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of SeaChange International by 140.9% in the fourth quarter. JPMorgan Chase & Co. now owns 78,946 shares of the software maker’s stock worth $111,000 after acquiring an additional 46,181 shares during the period. Institutional investors own 25.24% of the company’s stock.

Shares of NASDAQ:SEAC traded up $0.10 on Thursday, hitting $1.13. The company’s stock had a trading volume of 558,370 shares, compared to its average volume of 9,506,472. The company has a 50-day simple moving average of $1.26 and a 200 day simple moving average of $1.10. SeaChange International has a 1 year low of $0.69 and a 1 year high of $3.04. The company has a market capitalization of $54.40 million, a PE ratio of -2.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.30 and a quick ratio of 2.30.

SeaChange International (NASDAQ:SEAC) last released its quarterly earnings results on Monday, April 12th. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. SeaChange International had a negative return on equity of 25.60% and a negative net margin of 48.18%. On average, equities research analysts expect that SeaChange International will post -0.53 earnings per share for the current fiscal year.

Separately, Zacks Investment Research downgraded SeaChange International from a “hold” rating to a “sell” rating in a research note on Saturday, April 17th.

SeaChange International Company Profile

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.

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