SeaChange International, Inc. (NASDAQ:SEAC) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 4,180,000 shares, a decline of 17.4% from the March 31st total of 5,060,000 shares. Based on an average daily trading volume, of 11,030,000 shares, the short-interest ratio is presently 0.4 days.
Shares of SEAC traded down $0.05 during mid-day trading on Tuesday, hitting $1.09. 2,575,926 shares of the company’s stock were exchanged, compared to its average volume of 9,188,457. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.03. The stock has a market cap of $52.47 million, a price-to-earnings ratio of -2.48 and a beta of 0.81. SeaChange International has a twelve month low of $0.69 and a twelve month high of $2.99. The firm has a fifty day moving average of $1.26 and a two-hundred day moving average of $1.12.
SeaChange International (NASDAQ:SEAC) last posted its earnings results on Monday, April 12th. The software maker reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. SeaChange International had a negative return on equity of 25.60% and a negative net margin of 48.18%. On average, equities analysts predict that SeaChange International will post -0.53 earnings per share for the current year.
In other SeaChange International news, Chairman Robert M. Pons purchased 100,000 shares of the business’s stock in a transaction on Monday, April 19th. The stock was bought at an average cost of $1.04 per share, with a total value of $104,000.00. Following the acquisition, the chairman now owns 407,815 shares of the company’s stock, valued at $424,127.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SEAC. GSA Capital Partners LLP lifted its holdings in shares of SeaChange International by 427.1% during the fourth quarter. GSA Capital Partners LLP now owns 559,796 shares of the software maker’s stock worth $784,000 after buying an additional 453,602 shares during the last quarter. JPMorgan Chase & Co. increased its position in SeaChange International by 140.9% during the fourth quarter. JPMorgan Chase & Co. now owns 78,946 shares of the software maker’s stock worth $111,000 after acquiring an additional 46,181 shares during the period. Finally, Private Advisor Group LLC raised its stake in SeaChange International by 40.3% during the 1st quarter. Private Advisor Group LLC now owns 35,162 shares of the software maker’s stock valued at $55,000 after purchasing an additional 10,101 shares during the last quarter. 25.24% of the stock is currently owned by institutional investors.
SEAC has been the subject of a number of recent analyst reports. Zacks Investment Research lowered SeaChange International from a “hold” rating to a “sell” rating in a research report on Saturday, April 17th. Aegis started coverage on shares of SeaChange International in a research report on Monday. They set a “buy” rating and a $3.00 price objective on the 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.
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