LMR Partners LLP bought a new position in shares of SeaChange International Inc. (NASDAQ:SEAC) during the second quarter, Holdings Channel reports. The fund bought 36,444 shares of the company’s stock, valued at approximately $117,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royce & Associates LP boosted its position in shares of SeaChange International by 5.8% in the first quarter. Royce & Associates LP now owns 2,423,544 shares of the company’s stock worth $13,378,000 after buying an additional 133,900 shares during the period. Geode Capital Management LLC boosted its position in shares of SeaChange International by 1.4% in the first quarter. Geode Capital Management LLC now owns 211,315 shares of the company’s stock worth $1,166,000 after buying an additional 2,913 shares during the period. AXA boosted its position in shares of SeaChange International by 197.6% in the first quarter. AXA now owns 148,800 shares of the company’s stock worth $821,000 after buying an additional 98,801 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of SeaChange International during the first quarter worth about $433,000. 85.54% of the stock is currently owned by institutional investors and hedge funds.
SeaChange International Inc. (NASDAQ:SEAC) traded up 1.91% during mid-day trading on Friday, hitting $2.67. The company had a trading volume of 55,244 shares. SeaChange International Inc. has a 1-year low of $2.59 and a 1-year high of $7.15. The stock’s market capitalization is $93.94 million. The stock has a 50 day moving average price of $2.87 and a 200-day moving average price of $3.40.
SeaChange International (NASDAQ:SEAC) last announced its quarterly earnings results on Thursday, September 1st. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). The business had revenue of $18.50 million for the quarter. SeaChange International had a negative net margin of 71.52% and a negative return on equity of 28.48%. The firm’s revenue for the quarter was down 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, analysts forecast that SeaChange International Inc. will post ($0.57) earnings per share for the current year.
A number of brokerages have recently issued reports on SEAC. Zacks Investment Research raised SeaChange International from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Lake Street Capital cut SeaChange International from a “buy” rating to a “hold” rating and cut their target price for the stock from $4.50 to $3.00 in a research note on Tuesday, August 23rd. Finally, Dougherty & Co cut their target price on SeaChange International from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. SeaChange International has a consensus rating of “Hold” and an average price target of $4.69.
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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