SeaChange International Inc. (SEAC) Shares Down 0.3%
SeaChange International Inc. (NASDAQ:SEAC)’s share price fell 0.3% during mid-day trading on Friday . The stock traded as low as $3.19 and last traded at $3.32, with a volume of 143,405 shares trading hands. The stock had previously closed at $3.33.
A number of research firms have recently commented on SEAC. Zacks Investment Research lowered shares of SeaChange International from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. Dougherty & Co reduced their price objective on shares of SeaChange International from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, April 8th. BWS Financial reaffirmed a “buy” rating and issued a $6.00 price objective (down from $10.00) on shares of SeaChange International in a research note on Monday, April 11th. Finally, Noble Financial lowered shares of SeaChange International from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.05.
The stock has a 50 day moving average price of $3.37 and a 200-day moving average price of $4.81. The company’s market capitalization is $116.72 million.
SeaChange International (NASDAQ:SEAC) last posted its earnings results on Tuesday, June 7th. The company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm had revenue of $21.60 million for the quarter. The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.20) EPS. Analysts forecast that SeaChange International Inc. will post ($0.04) EPS for the current fiscal year.
In other news, Director Thomas F. Olson bought 10,000 shares of the stock in a transaction dated Thursday, June 16th. The stock was purchased at an average cost of $3.40 per share, for a total transaction of $34,000.00. Following the transaction, the director now owns 167,121 shares of the company’s stock, valued at $568,211.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Steven Craddock bought 25,000 shares of the stock in a transaction dated Tuesday, April 12th. The shares were purchased at an average price of $3.90 per share, with a total value of $97,500.00. Following the completion of the transaction, the chairman now directly owns 84,233 shares in the company, valued at approximately $328,508.70. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in SeaChange International stock. Pinnacle Associates Ltd. increased its position in SeaChange International Inc. (NASDAQ:SEAC) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,663,024 shares of the company’s stock after buying an additional 162,194 shares during the period. Pinnacle Associates Ltd. owned approximately 7.90% of SeaChange International worth $17,949,000 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 provide aggregation, licensing, management and distribution of video, primarily movies and television programming, and television advertising content to cable television system operators, telecommunications and media companies.
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