SeaChange International (NASDAQ:SEAC) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.02-0.10 for the period, compared to the Thomson Reuters consensus estimate of $0.08. The company issued revenue guidance of $20-$24 million, compared to the consensus revenue estimate of $22.91 million.
Several brokerages have commented on SEAC. Zacks Investment Research lowered SeaChange International from a buy rating to a hold rating in a research note on Wednesday, August 9th. Lake Street Capital upgraded SeaChange International from a hold rating to a buy rating and increased their target price for the company from $3.00 to $4.00 in a research note on Thursday.
Shares of SeaChange International (NASDAQ SEAC) opened at $2.80 on Thursday. SeaChange International has a 12 month low of $2.16 and a 12 month high of $2.99.
A hedge fund recently raised its stake in SeaChange International stock. Northern Trust Corp increased its stake in SeaChange International (NASDAQ:SEAC) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,357 shares of the software maker’s stock after purchasing an additional 4,702 shares during the period. Northern Trust Corp owned 0.25% of SeaChange International worth $232,000 at the end of the most recent reporting period. 73.53% of the stock is currently owned by hedge funds and other institutional investors.
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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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