SeaChange International Inc. (NASDAQ:SEAC) shares shot up 3.4% during trading on Friday . The company traded as high as $3.31 and last traded at $3.31, with a volume of 68,745 shares changing hands. The stock had previously closed at $3.20.

Separately, Zacks Investment Research cut SeaChange International from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $7.05.

The company’s market capitalization is $115.31 million. The stock has a 50-day moving average of $3.27 and a 200 day moving average of $4.24.

SeaChange International (NASDAQ:SEAC) last issued its earnings results on Tuesday, June 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). The business had revenue of $21.60 million for the quarter. During the same quarter last year, the firm earned ($0.20) earnings per share. SeaChange International’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities research analysts anticipate that SeaChange International Inc. will post ($0.04) earnings per share for the current year.

In other news, Director Thomas F. Olson purchased 10,000 shares of SeaChange International 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 directly owns 167,121 shares of the company’s stock, valued at $568,211.40. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary Palermo Cotton purchased 25,000 shares of SeaChange International stock in a transaction dated Friday, June 10th. The shares were purchased at an average price of $3.36 per share, with a total value of $84,000.00. Following the completion of the transaction, the director now directly owns 151,733 shares in the company, valued at $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 boosted its position in shares of SeaChange International Inc. (NASDAQ:SEAC) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 about 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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