Dougherty & Co Boosts SeaChange International (SEAC) Price Target to $4.50

SeaChange International (NASDAQ:SEAC) had its price objective boosted by Dougherty & Co from $4.00 to $4.50 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the software maker’s stock. Dougherty & Co’s price objective would indicate a potential upside of 60.71% from the company’s previous close.

Several other research analysts have also weighed in on SEAC. Zacks Investment Research lowered shares of SeaChange International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Lake Street Capital upgraded shares of SeaChange International from a “hold” rating to a “buy” rating and upped their target price for the stock from $3.00 to $4.00 in a research report on Thursday.

Shares of SeaChange International (NASDAQ:SEAC) traded up $0.06 on Thursday, reaching $2.80. 313,100 shares of the company’s stock traded hands, compared to its average volume of 90,630. SeaChange International has a one year low of $2.16 and a one year high of $2.99.

SeaChange International (NASDAQ:SEAC) last issued its earnings results on Wednesday, December 6th. The software maker reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.08. SeaChange International had a negative net margin of 54.54% and a negative return on equity of 15.80%. The company had revenue of $23.43 million for the quarter, compared to analyst estimates of $19.50 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. equities analysts anticipate that SeaChange International will post -0.08 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in shares of SeaChange International by 17.7% in the second quarter. Ameriprise Financial Inc. now owns 460,177 shares of the software maker’s stock valued at $1,224,000 after purchasing an additional 69,045 shares during the last quarter. Connors Investor Services Inc. grew its position in shares of SeaChange International by 31.5% in the second quarter. Connors Investor Services Inc. now owns 669,237 shares of the software maker’s stock valued at $1,780,000 after purchasing an additional 160,355 shares during the last quarter. Eidelman Virant Capital grew its position in shares of SeaChange International by 27.8% in the third quarter. Eidelman Virant Capital now owns 228,013 shares of the software maker’s stock valued at $624,000 after purchasing an additional 49,591 shares during the last quarter. Vanguard Group Inc. grew its position in shares of SeaChange International by 37.4% in the second quarter. Vanguard Group Inc. now owns 885,728 shares of the software maker’s stock valued at $2,356,000 after purchasing an additional 240,917 shares during the last quarter. Finally, Roumell Asset Management LLC grew its position in shares of SeaChange International by 28.8% in the third quarter. Roumell Asset Management LLC now owns 1,215,205 shares of the software maker’s stock valued at $3,330,000 after purchasing an additional 271,870 shares during the last quarter. Institutional investors and hedge funds own 73.53% of the company’s stock.

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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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