SeaChange International (SEAC) Receives $3.50 Average Price Target from Brokerages

SeaChange International (NASDAQ:SEAC) has been given an average rating of “Buy” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $3.50.

A number of equities research analysts have recently issued reports on SEAC shares. ValuEngine upgraded SeaChange International from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded SeaChange International from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Wednesday, July 11th. Lake Street Capital lowered SeaChange International from a “buy” rating to a “hold” rating and lowered their price objective for the company from $4.00 to $2.00 in a research note on Tuesday, August 21st. BWS Financial lowered their price objective on SeaChange International to $4.00 and set a “buy” rating for the company in a research note on Wednesday, August 22nd. Finally, TheStreet lowered SeaChange International from a “c-” rating to a “d+” rating in a research note on Monday, August 27th.

Shares of SEAC stock traded down $0.02 during trading hours on Wednesday, reaching $1.74. The company had a trading volume of 43,100 shares, compared to its average volume of 229,257. SeaChange International has a twelve month low of $1.38 and a twelve month high of $4.03. The firm has a market cap of $63.99 million, a P/E ratio of 15.91 and a beta of 0.17.

SeaChange International (NASDAQ:SEAC) last posted its earnings results on Wednesday, September 5th. The software maker reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. SeaChange International had a negative return on equity of 9.38% and a net margin of 7.99%. The business had revenue of $11.90 million during the quarter, compared to analyst estimates of $12.01 million. As a group, research analysts expect that SeaChange International will post -0.25 EPS for the current fiscal year.

In other SeaChange International news, Director Royce E. Wilson acquired 28,500 shares of the stock in a transaction on 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 purchase, the director now directly owns 160,360 shares in the company, valued at $274,215.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Terino acquired 50,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were acquired at an average price of $1.73 per share, with a total value of $86,500.00. Following the purchase, the chief executive officer now owns 371,043 shares in the company, valued at $641,904.39. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 88,500 shares of company stock valued at $152,935. 2.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. PenderFund Capital Management Ltd. grew its position in shares of SeaChange International by 18.6% in the 3rd quarter. PenderFund Capital Management Ltd. now owns 1,710,532 shares of the software maker’s stock worth $3,732,000 after acquiring an additional 268,810 shares in the last quarter. Millennium Management LLC grew its position in shares of SeaChange International by 28.9% in the 2nd quarter. Millennium Management LLC now owns 261,433 shares of the software maker’s stock worth $894,000 after acquiring an additional 58,642 shares in the last quarter. Hilltop Holdings Inc. acquired a new position in shares of SeaChange International in the 2nd quarter worth approximately $257,000. Renaissance Technologies LLC grew its position in shares of SeaChange International by 4.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,150,803 shares of the software maker’s stock worth $7,356,000 after acquiring an additional 83,811 shares in the last quarter. Finally, Ariel Investments LLC grew its position in shares of SeaChange International by 32.2% in the 2nd quarter. Ariel Investments LLC now owns 3,417,075 shares of the software maker’s stock worth $11,686,000 after acquiring an additional 833,252 shares in the last quarter. Institutional investors own 73.64% of the company’s stock.

About SeaChange International

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.

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