SeaChange International (NASDAQ:SEAC) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 141,100 shares, a growth of 22.7% from the April 30th total of 115,000 shares. Based on an average daily trading volume, of 114,300 shares, the short-interest ratio is presently 1.2 days. Approximately 0.5% of the company’s stock are short sold.
A number of brokerages have weighed in on SEAC. Dougherty & Co cut SeaChange International from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 26th. Zacks Investment Research cut SeaChange International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Finally, ValuEngine cut SeaChange International from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $3.25.
Shares of NASDAQ SEAC traded down $0.05 during trading hours on Thursday, hitting $1.34. 4,784 shares of the company’s stock were exchanged, compared to its average volume of 105,646. SeaChange International has a 1-year low of $1.13 and a 1-year high of $3.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.03 and a current ratio of 2.06. The stock has a market capitalization of $49.42 million, a PE ratio of -3.44 and a beta of 0.75.
In related news, Director Robert M. Pons purchased 20,000 shares of SeaChange International stock in a transaction on Wednesday, June 12th. The stock was bought at an average price of $1.47 per share, with a total value of $29,400.00. Following the completion of the transaction, the director now directly owns 118,039 shares of the company’s stock, valued at $173,517.33. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark J. Bonney purchased 126,749 shares of SeaChange International stock in a transaction on Wednesday, June 12th. The stock was bought at an average cost of $1.50 per share, with a total value of $190,123.50. Following the transaction, the insider now directly owns 351,527 shares of the company’s stock, valued at $527,290.50. The disclosure for this purchase can be found here. 2.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Eidelman Virant Capital lifted its position in shares of 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. King Luther Capital Management Corp increased its stake in SeaChange International by 92.5% during the fourth quarter. King Luther Capital Management Corp now owns 192,500 shares of the software maker’s stock valued at $243,000 after acquiring an additional 92,500 shares during the period. Managed Asset Portfolios LLC increased its stake in SeaChange International by 131.9% during the fourth quarter. Managed Asset Portfolios LLC now owns 135,215 shares of the software maker’s stock valued at $170,000 after acquiring an additional 76,915 shares during the period. B. Riley Financial Inc. increased its stake in SeaChange International by 123.7% during the fourth quarter. B. Riley Financial Inc. now owns 85,000 shares of the software maker’s stock valued at $107,000 after acquiring an additional 47,000 shares during the period. Finally, GMT Capital Corp bought a new position in SeaChange International during the first quarter valued at about $51,000. 40.00% of the stock is owned by institutional investors and hedge funds.
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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