Alpine Partners VI LLC acquired a new stake in shares of SeaChange International Inc. (NASDAQ:SEAC) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 46,186 shares of the company’s stock, valued at approximately $147,000.
Several other hedge funds also recently bought and sold shares of the stock. Prudential Financial Inc. bought a new stake in SeaChange International during the first quarter valued at $433,000. Royce & Associates LP boosted its stake in SeaChange International by 5.8% in the first quarter. Royce & Associates LP now owns 2,423,544 shares of the company’s stock valued at $13,378,000 after buying an additional 133,900 shares during the period. AXA boosted its stake in SeaChange International by 197.6% in the first quarter. AXA now owns 148,800 shares of the company’s stock valued at $821,000 after buying an additional 98,801 shares during the period. Geode Capital Management LLC boosted its stake in SeaChange International by 1.4% in the first quarter. Geode Capital Management LLC now owns 211,315 shares of the company’s stock valued at $1,166,000 after buying an additional 2,913 shares during the period. Finally, LMR Partners LLP bought a new stake in SeaChange International during the second quarter valued at $117,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.
SeaChange International Inc. (NASDAQ:SEAC) opened at 2.81 on Monday. The company’s 50 day moving average is $2.92 and its 200 day moving average is $3.48. The company’s market cap is $98.86 million. SeaChange International Inc. has a 12-month low of $2.74 and a 12-month high of $7.20.
SeaChange International (NASDAQ:SEAC) last released its earnings results on Thursday, September 1st. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). SeaChange International had a negative net margin of 71.52% and a negative return on equity of 28.48%. The firm had revenue of $18.50 million for the quarter. During the same period last year, the firm posted ($0.04) EPS. SeaChange International’s quarterly revenue was down 33.7% compared to the same quarter last year. Analysts forecast that SeaChange International Inc. will post ($0.57) earnings per share for the current fiscal year.
Several analysts have recently weighed in on SEAC shares. Zacks Investment Research cut shares of SeaChange International from a “hold” rating to a “sell” rating in a research report on Thursday, June 16th. Lake Street Capital cut shares of SeaChange International from a “buy” rating to a “hold” rating and lowered their price objective for the company from $4.50 to $3.00 in a research report on Tuesday, August 23rd. Finally, Dougherty & Co reduced their target price on shares of SeaChange International from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. SeaChange International currently has an average rating of “Hold” and a consensus target price of $4.69.
SeaChange International Company Profile
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.