SeaChange International Inc. (SEAC) Sees Unusually-High Trading Volume
Shares of SeaChange International Inc. (NASDAQ:SEAC) saw strong trading volume on Friday . 93,143 shares changed hands during trading, a decline of 7% from the previous session’s volume of 99,821 shares.The stock last traded at $2.77 and had previously closed at $2.77.
Several equities research analysts have issued reports on the company. Zacks Investment Research lowered SeaChange International from a “hold” rating to a “sell” rating in a research note on Thursday, June 16th. Dougherty & Co dropped their price target on SeaChange International from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Lake Street Capital lowered SeaChange International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $4.50 to $3.00 in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. SeaChange International currently has a consensus rating of “Hold” and an average target price of $5.95.
The company’s market capitalization is $97.73 million. The firm’s 50 day moving average price is $3.22 and its 200-day moving average price is $4.03.
SeaChange International (NASDAQ:SEAC) last announced its earnings results on Tuesday, June 7th. The company reported ($0.20) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.20). The company earned $21.60 million during the quarter. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities research analysts expect that SeaChange International Inc. will post ($0.46) earnings per share for the current year.
In related news, Director Thomas F. Olson bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were bought at an average cost of $3.40 per share, with a total value of $34,000.00. Following the acquisition, the director now owns 167,121 shares in the company, valued at $568,211.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Palermo Cotton bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The stock was bought at an average cost of $3.36 per share, for a total transaction of $84,000.00. Following the completion of the acquisition, the director now owns 151,733 shares in the company, valued at approximately $509,822.88. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in SeaChange International stock. New York State Common Retirement Fund increased its position in SeaChange International Inc. (NASDAQ:SEAC) by 3.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 362,668 shares of the company’s stock after buying an additional 10,900 shares during the period. New York State Common Retirement Fund owned 1.08% of SeaChange International worth $2,444,000 as of its most recent filing with the SEC.
SeaChange International, Inc (SeaChange) is engaged in the delivery of multiscreen video. The Company’s products and services facilitate the aggregation, licensing, management and distribution of video and advertising content for cable television system operators, telecommunications companies, satellite operators and media companies.
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