SeaChange International Inc. (SEAC) Trading 1.6% Higher
SeaChange International Inc. (NASDAQ:SEAC) traded up 1.6% during trading on Tuesday . The stock traded as high as $3.30 and last traded at $3.24, with a volume of 82,522 shares trading hands. The stock had previously closed at $3.19.
Several equities research analysts have commented on the stock. Noble Financial lowered shares of SeaChange International from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. Dougherty & Co reduced their target price on shares of SeaChange International from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, April 8th. BWS Financial reissued a “buy” rating and set a $6.00 target price (down from $10.00) on shares of SeaChange International in a research report on Monday, April 11th. Finally, Zacks Investment Research downgraded shares of SeaChange International from a “hold” rating to a “sell” rating in a research report on Saturday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $7.05.
The firm’s market capitalization is $114.26 million. The company has a 50-day moving average of $3.36 and a 200-day moving average of $4.59.
SeaChange International (NASDAQ:SEAC) last posted its quarterly earnings data on Tuesday, June 7th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $21.60 million for the quarter. SeaChange International’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. On average, analysts predict that SeaChange International Inc. will post ($0.04) earnings per share for the current year.
In other news, Director Mary Palermo Cotton bought 25,000 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was acquired at an average cost of $3.36 per share, with a total value of $84,000.00. Following the completion of the acquisition, the director now owns 151,733 shares of the company’s stock, valued at $509,822.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas F. Olson bought 10,000 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was purchased at an average cost of $3.40 per share, with a total value of $34,000.00. Following the completion of the acquisition, the director now directly owns 167,121 shares of the company’s stock, valued at approximately $568,211.40. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in SeaChange International stock. Pinnacle Associates Ltd. boosted its stake in SeaChange International Inc. (NASDAQ:SEAC) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,663,024 shares of the company’s stock after buying an additional 162,194 shares during the period. Pinnacle Associates Ltd. owned about 7.90% of SeaChange International worth $17,949,000 as of its most recent SEC filing.
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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