Zacks Investment Research cut shares of SeaChange International, Inc. (NASDAQ:SEAC) from a buy rating to a hold rating in a report released on Wednesday, November 8th.
According to Zacks, “SeaChange International, Inc. develops, markets and supports products to manage, store and distribute digital video for television operators, broadcast and telecommunications companies. The company’s products utilize its proprietary distributed application software and standard industry components to automate the management and distribution of short- and long-form video streams including advertisements, movies, news updates and other video programming requiring precise, accurate and continuous execution. “
Shares of SeaChange International (SEAC) traded up $0.01 during mid-day trading on Wednesday, hitting $2.68. The stock had a trading volume of 39,400 shares, compared to its average volume of 91,834. SeaChange International has a twelve month low of $2.16 and a twelve month high of $2.99.
SeaChange International (NASDAQ:SEAC) last issued its earnings results on Wednesday, September 6th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The company had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $17.94 million. SeaChange International had a negative return on equity of 15.80% and a negative net margin of 54.54%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. research analysts anticipate that SeaChange International will post -0.08 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Virtu KCG Holdings LLC acquired a new stake in shares of SeaChange International during the 2nd quarter worth about $132,000. King Luther Capital Management Corp raised its position in shares of SeaChange International by 14.3% during the 2nd quarter. King Luther Capital Management Corp now owns 80,000 shares of the software maker’s stock worth $213,000 after acquiring an additional 10,000 shares in the last quarter. Northern Trust Corp raised its position in shares of SeaChange International by 5.7% during the 2nd quarter. Northern Trust Corp now owns 87,357 shares of the software maker’s stock worth $232,000 after acquiring an additional 4,702 shares in the last quarter. Prudential Financial Inc. increased its position in SeaChange International by 13.7% during the first quarter. Prudential Financial Inc. now owns 95,500 shares of the software maker’s stock worth $237,000 after buying an additional 11,500 shares during the period. Finally, Eidelman Virant Capital increased its position in SeaChange International by 62.5% during the second quarter. Eidelman Virant Capital now owns 178,422 shares of the software maker’s stock worth $474,000 after buying an additional 68,609 shares during the period. 71.92% of the stock is currently owned by institutional investors.
SeaChange International Company Profile
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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