Short Interest in SeaChange International (NASDAQ:SEAC) Grows By 31.2%

SeaChange International (NASDAQ:SEAC) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 420,000 shares, a growth of 31.2% from the July 31st total of 320,100 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 200,500 shares, the days-to-cover ratio is currently 2.1 days.

SeaChange International stock traded down $0.11 during midday trading on Thursday, hitting $2.95. The company’s stock had a trading volume of 649,400 shares, compared to its average volume of 200,865. SeaChange International has a 1-year low of $1.13 and a 1-year high of $3.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.89. The company has a 50-day moving average price of $2.14 and a two-hundred day moving average price of $1.58. The company has a market cap of $112.80 million, a price-to-earnings ratio of -7.56 and a beta of 0.82.

Several analysts have weighed in on SEAC shares. Zacks Investment Research upgraded shares of SeaChange International from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Saturday, September 7th. ValuEngine cut shares of SeaChange International from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th.



A number of institutional investors have recently modified their holdings of SEAC. BlackRock Inc. increased its holdings in SeaChange International by 1.1% in the 2nd quarter. BlackRock Inc. now owns 665,043 shares of the software maker’s stock valued at $951,000 after buying an additional 7,558 shares during the period. Managed Asset Portfolios LLC increased its holdings in SeaChange International by 7.8% in the 2nd quarter. Managed Asset Portfolios LLC now owns 151,095 shares of the software maker’s stock valued at $216,000 after buying an additional 10,870 shares during the period. Renaissance Technologies LLC increased its holdings in SeaChange International by 1.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,501,814 shares of the software maker’s stock valued at $2,148,000 after buying an additional 17,464 shares during the period. GMT Capital Corp bought a new position in SeaChange International in the 1st quarter valued at about $51,000. Finally, SG Capital Management LLC bought a new position in SeaChange International in the 2nd quarter valued at about $97,000. Institutional investors and hedge funds own 38.06% of the company’s stock.

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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