SeaChange International (SEAC) Sees Large Decrease in Short Interest

SeaChange International (NASDAQ:SEAC) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 289,680 shares, a decrease of 54.6% from the November 30th total of 637,901 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 768,350 shares, the short-interest ratio is currently 0.4 days.

In other news, insider Opportunities Fund Lp Se Viex sold 648,735 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $3.50, for a total value of $2,270,572.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SEAC. Bank of New York Mellon Corp grew its position in SeaChange International by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 213,810 shares of the software maker’s stock valued at $569,000 after buying an additional 1,918 shares during the period. Ameriprise Financial Inc. grew its position in SeaChange International by 17.7% during the second quarter. Ameriprise Financial Inc. now owns 460,177 shares of the software maker’s stock valued at $1,224,000 after buying an additional 69,045 shares during the period. King Luther Capital Management Corp grew its position in SeaChange International by 14.3% during the second quarter. King Luther Capital Management Corp now owns 80,000 shares of the software maker’s stock valued at $213,000 after buying an additional 10,000 shares during the period. Northern Trust Corp grew its position in SeaChange International by 5.7% during the second quarter. Northern Trust Corp now owns 87,357 shares of the software maker’s stock valued at $232,000 after buying an additional 4,702 shares during the period. Finally, Vanguard Group Inc. grew its position in SeaChange International by 37.4% during the second quarter. Vanguard Group Inc. now owns 885,728 shares of the software maker’s stock valued at $2,356,000 after buying an additional 240,917 shares during the period. Institutional investors own 73.04% of the company’s stock.

SeaChange International (NASDAQ:SEAC) opened at $3.79 on Friday. The firm has a market cap of $140.60, a PE ratio of -3.87, a P/E/G ratio of 15.84 and a beta of 0.85. SeaChange International has a 1 year low of $2.16 and a 1 year high of $4.03.

SeaChange International (NASDAQ:SEAC) last posted its quarterly earnings results on Wednesday, December 6th. The software maker reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.08. The company had revenue of $23.43 million during the quarter, compared to analyst estimates of $19.50 million. SeaChange International had a negative net margin of 42.52% and a negative return on equity of 5.91%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) earnings per share. equities analysts forecast that SeaChange International will post 0.03 earnings per share for the current fiscal year.

Several analysts have recently commented on SEAC shares. Zacks Investment Research upgraded shares of SeaChange International from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a report on Wednesday, September 13th. Lake Street Capital upgraded shares of SeaChange International from a “hold” rating to a “buy” rating and increased their target price for the company from $3.00 to $4.00 in a report on Thursday, December 7th. Finally, Dougherty & Co increased their target price on shares of SeaChange International from $4.00 to $4.50 and gave the company a “buy” rating in a report on Thursday, December 7th.

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About SeaChange International

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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