Wall Street analysts expect that SeaChange International (NASDAQ:SEAC) will announce $16.76 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for SeaChange International’s earnings, with the highest sales estimate coming in at $17.41 million and the lowest estimate coming in at $16.1 million. SeaChange International posted sales of $21.57 million in the same quarter last year, which suggests a negative year over year growth rate of 22.3%. The firm is expected to issue its next earnings report on Tuesday, June 6th.
According to Zacks, analysts expect that SeaChange International will report full-year sales of $16.76 million for the current fiscal year, with estimates ranging from $77.34 million to $80.03 million. For the next fiscal year, analysts expect that the business will post sales of $0.00 per share. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for SeaChange International.
Separately, Zacks Investment Research raised shares of SeaChange International from a “sell” rating to a “hold” rating in a research note on Wednesday, February 8th.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEAC. King Luther Capital Management Corp acquired a new position in SeaChange International during the third quarter worth $157,000. Russell Investments Group Ltd. purchased a new stake in shares of SeaChange International during the fourth quarter worth about $216,000. State Street Corp increased its stake in shares of SeaChange International by 81.8% in the fourth quarter. State Street Corp now owns 77,103 shares of the software maker’s stock worth $178,000 after buying an additional 34,702 shares in the last quarter. Eidelman Virant Capital increased its stake in shares of SeaChange International by 9.1% in the first quarter. Eidelman Virant Capital now owns 109,813 shares of the software maker’s stock worth $272,000 after buying an additional 9,200 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of SeaChange International by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 211,892 shares of the software maker’s stock worth $526,000 after buying an additional 7,068 shares in the last quarter. 73.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of SeaChange International (NASDAQ:SEAC) remained flat at $2.52 during midday trading on Wednesday. The company had a trading volume of 2,125 shares. The stock’s market cap is $88.99 million. SeaChange International has a 1-year low of $2.05 and a 1-year high of $3.69. The stock has a 50 day moving average price of $2.46 and a 200 day moving average price of $2.50.
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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