SeaChange International, Inc. (NASDAQ:SEAC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “SeaChange International, Inc. develops, markets and supports products to manage, store and distribute digital video for television operators, broadcast and telecommunications companies. The company’s products utilize its proprietary distributed application software and standard industry components to automate the management and distribution of short- and long-form video streams including advertisements, movies, news updates and other video programming requiring precise, accurate and continuous execution. “

Shares of SeaChange International (NASDAQ SEAC) traded down $0.02 during midday trading on Wednesday, reaching $2.65. 244,218 shares of the company were exchanged, compared to its average volume of 92,597. SeaChange International has a 52-week low of $2.05 and a 52-week high of $2.99.

SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings data on Wednesday, September 6th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $17.94 million. SeaChange International had a negative net margin of 54.54% and a negative return on equity of 15.80%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) earnings per share. equities analysts forecast that SeaChange International will post -0.08 EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC acquired a new position in shares of SeaChange International in the second quarter valued at approximately $132,000. King Luther Capital Management Corp boosted its holdings in shares of SeaChange International by 14.3% in the second quarter. King Luther Capital Management Corp now owns 80,000 shares of the software maker’s stock valued at $213,000 after buying an additional 10,000 shares during the period. Northern Trust Corp boosted its holdings in shares of SeaChange International by 5.7% in the second quarter. Northern Trust Corp now owns 87,357 shares of the software maker’s stock valued at $232,000 after buying an additional 4,702 shares during the period. Prudential Financial Inc. boosted its holdings in shares of SeaChange International by 13.7% in the first quarter. Prudential Financial Inc. now owns 95,500 shares of the software maker’s stock valued at $237,000 after buying an additional 11,500 shares during the period. Finally, Eidelman Virant Capital boosted its holdings in shares of SeaChange International by 62.5% in the second quarter. Eidelman Virant Capital now owns 178,422 shares of the software maker’s stock valued at $474,000 after buying an additional 68,609 shares during the period. Institutional investors own 71.78% of the company’s stock.

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.

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