SeaChange International (NASDAQ:SEAC) Coverage Initiated by Analysts at StockNews.com

Posted by on Aug 12th, 2023

StockNews.com assumed coverage on shares of SeaChange International (NASDAQ:SEAC – Get Free Report) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the software maker’s stock.

SeaChange International Stock Performance

SEAC stock opened at $4.91 on Friday. The firm has a market cap of $12.69 million, a PE ratio of -1.33 and a beta of 1.06. The firm’s fifty day moving average is $7.96 and its 200 day moving average is $9.64. SeaChange International has a one year low of $4.51 and a one year high of $12.20.

SeaChange International (NASDAQ:SEAC – Get Free Report) last released its quarterly earnings results on Monday, June 12th. The software maker reported ($0.22) EPS for the quarter. The firm had revenue of $6.99 million for the quarter. SeaChange International had a negative net margin of 27.84% and a positive return on equity of 2.91%.

Insider Buying and Selling

In other news, major shareholder Karen Singer bought 8,655 shares of SeaChange International stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $4.62 per share, with a total value of $39,986.10. Following the completion of the purchase, the insider now directly owns 608,795 shares of the company’s stock, valued at $2,812,632.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SeaChange International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in SeaChange International by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 1,819,336 shares of the software maker’s stock worth $2,056,000 after buying an additional 114,207 shares during the period. Renaissance Technologies LLC increased its stake in SeaChange International by 689.5% during the 1st quarter. Renaissance Technologies LLC now owns 386,858 shares of the software maker’s stock worth $437,000 after buying an additional 337,858 shares during the period. Bank of America Corp DE increased its stake in SeaChange International by 122,509.1% during the 1st quarter. Bank of America Corp DE now owns 107,896 shares of the software maker’s stock worth $39,000 after buying an additional 107,808 shares during the period. Weil Company Inc. purchased a new stake in SeaChange International during the 4th quarter worth approximately $38,000. Finally, US Bancorp DE purchased a new stake in SeaChange International during the 1st quarter worth approximately $41,000.

About SeaChange International

(Get Free Report)

SeaChange International, Inc provides video delivery, advertising, streaming platforms, and emerging Free Ad-Supported Streaming TV (FAST) products and services that facilitate the aggregation, licensing, management and distribution of video and advertising content worldwide. It offers Operator TV Platform solutions including customer's current network with OTT video management solutions in a single deployment, digital video broadcasting – cable / quadrature amplitude modulation networks with OTT streaming, and immersive multiscreen experience and on demand services, as well as pre-integrated solutions, such as multi-content delivery networks including Broadpeak, Edgeware and HBO, multidigital rights management, and seamless integration with existing network components.

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