SeaChange International (NASDAQ:SEAC) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

SeaChange International (NASDAQ:SEAC) announced its earnings results on Sunday. The software maker reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.06, MarketWatch Earnings reports. SeaChange International had a negative return on equity of 43.42% and a negative net margin of 95.93%. During the same quarter in the prior year, the firm posted ($0.15) EPS.

SeaChange International stock traded up $0.07 during midday trading on Tuesday, reaching $1.16. The stock had a trading volume of 82,730 shares, compared to its average volume of 5,071,805. SeaChange International has a 12 month low of $0.69 and a 12 month high of $2.15. The company has a market capitalization of $56.15 million, a P/E ratio of -2.14 and a beta of 0.78. The company has a fifty day moving average price of $1.07 and a two-hundred day moving average price of $1.15. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.01.

In other news, Chairman Robert M. Pons bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 21st. The stock was acquired at an average cost of $1.06 per share, with a total value of $106,000.00. Following the transaction, the chairman now directly owns 507,815 shares of the company’s stock, valued at approximately $538,283.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company’s stock.

A hedge fund recently raised its stake in SeaChange International stock. Morgan Stanley raised its stake in shares of SeaChange International, Inc. (NASDAQ:SEAC) by 5,134.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 782,217 shares of the software maker’s stock after purchasing an additional 767,272 shares during the period. Morgan Stanley owned approximately 1.62% of SeaChange International worth $1,009,000 as of its most recent SEC filing. 16.31% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research lowered SeaChange International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 17th.

About SeaChange International

SeaChange International, Inc engages in the provision of multiscreen video delivery and advertising solutions. It operates through the following geographical segments: North America; Europe and Middle East; Latin America; and Asia Pacific. The firm’s products and services include video platform, content management, advertising, user experience, maintenance and support, framework and support services, and professional services.

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Earnings History for SeaChange International (NASDAQ:SEAC)

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