SeaChange International (NASDAQ:SEAC) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 320,100 shares, a decline of 8.4% from the June 30th total of 349,400 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 210,200 shares, the days-to-cover ratio is presently 1.5 days.

In other SeaChange International news, Director Robert M. Pons purchased 20,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $1.47 per share, with a total value of $29,400.00. Following the acquisition, the director now directly owns 118,039 shares of the company’s stock, valued at approximately $173,517.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark J. Bonney purchased 126,749 shares of the stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $1.50 per share, for a total transaction of $190,123.50. Following the acquisition, the insider now directly owns 351,527 shares in the company, valued at $527,290.50. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. GMT Capital Corp acquired a new position in SeaChange International during the 1st quarter worth about $51,000. SG Capital Management LLC bought a new stake in SeaChange International during the 2nd quarter worth about $97,000. Managed Asset Portfolios LLC raised its holdings in SeaChange International by 7.8% during the 2nd quarter. Managed Asset Portfolios LLC now owns 151,095 shares of the software maker’s stock worth $216,000 after purchasing an additional 10,870 shares during the last quarter. Eidelman Virant Capital raised its holdings in SeaChange International by 91.8% during the 1st quarter. Eidelman Virant Capital now owns 633,000 shares of the software maker’s stock worth $841,000 after purchasing an additional 303,000 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in SeaChange International by 1.1% during the 2nd quarter. BlackRock Inc. now owns 665,043 shares of the software maker’s stock worth $951,000 after purchasing an additional 7,558 shares during the last quarter. Institutional investors and hedge funds own 40.52% of the company’s stock.

SEAC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of SeaChange International from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. ValuEngine upgraded shares of SeaChange International from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. SeaChange International has a consensus rating of “Hold” and a consensus price target of $3.00.

NASDAQ SEAC traded up $0.01 on Thursday, hitting $1.93. 207,332 shares of the company were exchanged, compared to its average volume of 169,478. The firm has a 50 day moving average of $1.74 and a two-hundred day moving average of $1.49. The company has a market cap of $72.85 million, a P/E ratio of -4.95 and a beta of 0.89. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.03. SeaChange International has a 1-year low of $1.13 and a 1-year high of $2.99.

SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings results on Thursday, June 6th. The software maker reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.10). The company had revenue of $8.49 million for the quarter. SeaChange International had a negative return on equity of 30.21% and a negative net margin of 77.53%. Research analysts anticipate that SeaChange International will post -0.31 EPS for the current fiscal year.

SeaChange International Company Profile

SeaChange International, Inc provides multiscreen, advertising, and premium over the top (OTT) video products and services that facilitate the aggregation, licensing, management, and distribution of video and television advertising content worldwide. It offers video products, including SeaChange Adrenalin, a multiscreen video back office platform that enables service providers to manage, monetize, and deliver a seamless viewing experience across televisions, personal computers (PCs), tablets, smartphones, and other IP-enabled devices; and SeaChange AssetFlow, a content management solution, which is used to receive, manage, and publish content for viewing on televisions, tablets, PCs, and other consumer devices, as well as SeaChange Rave, an integrated platform.

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