SeaChange International (NASDAQ:SEAC) was downgraded by research analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a report issued on Tuesday, The Fly reports. They currently have a $2.00 target price on the software maker’s stock, down from their prior target price of $4.00. Lake Street Capital’s price target would indicate a potential upside of 22.70% from the stock’s current price.
A number of other research firms have also recently weighed in on SEAC. ValuEngine raised SeaChange International from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research raised SeaChange International from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Wednesday, July 11th. Finally, TheStreet raised SeaChange International from a “d” rating to a “c-” rating in a research report on Thursday, June 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. SeaChange International currently has an average rating of “Buy” and a consensus price target of $3.42.
SeaChange International stock traded down $1.27 during mid-day trading on Tuesday, reaching $1.63. 64,748 shares of the company were exchanged, compared to its average volume of 71,083. SeaChange International has a twelve month low of $2.40 and a twelve month high of $4.03. The stock has a market capitalization of $103.66 million, a price-to-earnings ratio of 15.36, a PEG ratio of 3.64 and a beta of 0.57.
SeaChange International (NASDAQ:SEAC) last posted its quarterly earnings data on Wednesday, June 6th. The software maker reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). SeaChange International had a negative return on equity of 0.37% and a net margin of 17.06%. The company had revenue of $14.94 million during the quarter, compared to analysts’ expectations of $14.39 million. equities analysts predict that SeaChange International will post 0.08 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SeaChange International during the 2nd quarter worth approximately $107,000. Wells Fargo & Company MN raised its stake in shares of SeaChange International by 152.4% during the 4th quarter. Wells Fargo & Company MN now owns 32,044 shares of the software maker’s stock worth $126,000 after buying an additional 19,349 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in shares of SeaChange International during the 1st quarter worth approximately $180,000. A.R.T. Advisors LLC raised its stake in shares of SeaChange International by 102.6% during the 1st quarter. A.R.T. Advisors LLC now owns 72,071 shares of the software maker’s stock worth $195,000 after buying an additional 36,500 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of SeaChange International during the 1st quarter worth approximately $229,000. 83.21% of the stock is owned by institutional investors and hedge funds.
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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