SeaChange International (SEAC) Raised to “Buy” at Lake Street Capital

SeaChange International (NASDAQ:SEAC) was upgraded by analysts at Lake Street Capital from a “hold” rating to a “buy” rating in a report issued on Thursday.

Separately, Zacks Investment Research lowered SeaChange International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th.

SeaChange International (NASDAQ:SEAC) opened at $2.80 on Thursday. SeaChange International has a 52-week low of $2.16 and a 52-week 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. The business had revenue of $23.43 million for the quarter, compared to analyst estimates of $19.50 million. SeaChange International had a negative return on equity of 15.80% and a negative net margin of 54.54%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company posted ($0.13) EPS. equities analysts anticipate that SeaChange International will post -0.08 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Virtu KCG Holdings LLC acquired a new stake in shares of SeaChange International during the second quarter valued at about $132,000. King Luther Capital Management Corp grew its stake in shares of 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 acquiring an additional 10,000 shares in the last quarter. Northern Trust Corp grew its stake in shares of 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 acquiring an additional 4,702 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 acquiring an additional 1,918 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its stake in shares of SeaChange International by 12.6% during the third quarter. Bourgeon Capital Management LLC now owns 224,172 shares of the software maker’s stock valued at $614,000 after acquiring an additional 25,046 shares in the last quarter. Institutional investors own 73.53% of the company’s stock.

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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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