Analysts Set SeaChange International (SEAC) Price Target at $3.50

SeaChange International (NASDAQ:SEAC) has been assigned an average rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $3.50.

Several research firms recently weighed in on SEAC. Lake Street Capital cut shares of SeaChange International from a “buy” rating to a “hold” rating and cut their target price for the company from $4.00 to $2.00 in a research note on Tuesday, August 21st. Zacks Investment Research raised shares of SeaChange International from a “sell” rating to a “hold” rating in a research note on Saturday, September 8th. BWS Financial dropped their price objective on shares of SeaChange International to $4.00 and set a “buy” rating for the company in a research note on Wednesday, August 22nd. TheStreet cut shares of SeaChange International from a “c-” rating to a “d+” rating in a research note on Monday, August 27th. Finally, ValuEngine raised shares of SeaChange International from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd.

Shares of SEAC stock opened at $1.71 on Wednesday. The firm has a market cap of $63.99 million, a PE ratio of 15.45 and a beta of 0.17. SeaChange International has a one year low of $1.38 and a one year high of $4.03.

SeaChange International (NASDAQ:SEAC) last announced its quarterly earnings data on Wednesday, September 5th. The software maker reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.01. The firm had revenue of $11.90 million for the quarter, compared to the consensus estimate of $12.01 million. SeaChange International had a net margin of 7.99% and a negative return on equity of 9.38%. On average, analysts anticipate that SeaChange International will post -0.25 earnings per share for the current fiscal year.

In other news, Director Royce E. Wilson bought 28,500 shares of the stock in a transaction dated Monday, September 10th. The stock was purchased at an average price of $1.71 per share, for a total transaction of $48,735.00. Following the acquisition, the director now owns 160,360 shares of the company’s stock, valued at $274,215.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Edward Terino bought 50,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was purchased at an average price of $1.73 per share, with a total value of $86,500.00. Following the acquisition, the chief executive officer now directly owns 371,043 shares in the company, valued at approximately $641,904.39. The disclosure for this purchase can be found here. Insiders acquired a total of 88,500 shares of company stock valued at $152,935 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SEAC. JPMorgan Chase & Co. lifted its holdings in shares of SeaChange International by 10,478.7% in the 1st quarter. JPMorgan Chase & Co. now owns 253,888 shares of the software maker’s stock worth $688,000 after acquiring an additional 251,488 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of SeaChange International by 21.0% in the 1st quarter. California Public Employees Retirement System now owns 146,643 shares of the software maker’s stock worth $397,000 after acquiring an additional 25,443 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SeaChange International by 18.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,129,476 shares of the software maker’s stock worth $5,771,000 after acquiring an additional 326,752 shares during the last quarter. A.R.T. Advisors LLC lifted its holdings in shares of SeaChange International by 102.6% in the 1st quarter. A.R.T. Advisors LLC now owns 72,071 shares of the software maker’s stock worth $195,000 after acquiring an additional 36,500 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of SeaChange International by 7.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,840,967 shares of the software maker’s stock worth $4,989,000 after acquiring an additional 132,993 shares during the last quarter. Hedge funds and other institutional investors own 73.64% 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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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