SeaChange International (NASDAQ:SEAC) has received an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $3.50.

SEAC has been the topic of several recent analyst reports. Lake Street Capital lowered SeaChange International from a “buy” rating to a “hold” rating and lowered their price target for the stock from $4.00 to $2.00 in a research report on Tuesday, August 21st. BWS Financial lowered their price target on SeaChange International to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, August 22nd. TheStreet lowered SeaChange International from a “c-” rating to a “d+” rating in a research report on Monday, August 27th. Finally, Zacks Investment Research lowered SeaChange International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 29th.

Shares of NASDAQ:SEAC traded down $0.03 during trading on Thursday, hitting $1.72. 65,100 shares of the company were exchanged, compared to its average volume of 212,381. The firm has a market capitalization of $62.56 million, a price-to-earnings ratio of 15.73 and a beta of 0.05. SeaChange International has a fifty-two week low of $1.38 and a fifty-two week high of $4.03.

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

In other SeaChange International news, Director Royce E. Wilson bought 28,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were acquired at an average cost of $1.71 per share, with a total value of $48,735.00. Following the acquisition, the director now owns 160,360 shares of the company’s stock, valued at $274,215.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Terino bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were acquired at an average cost of $1.73 per share, for a total transaction of $86,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 371,043 shares in the company, valued at approximately $641,904.39. The disclosure for this purchase can be found here. Insiders have acquired a total of 88,500 shares of company stock worth $152,935 in the last ninety days. Insiders own 2.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its holdings in shares of SeaChange International by 28.9% during 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 during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of SeaChange International by 1,332.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 543,025 shares of the software maker’s stock worth $1,858,000 after acquiring an additional 505,125 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of SeaChange International during the 2nd quarter worth approximately $107,000. Spark Investment Management LLC increased its holdings in shares of SeaChange International by 51.3% during the 2nd quarter. Spark Investment Management LLC now owns 128,000 shares of the software maker’s stock worth $437,000 after acquiring an additional 43,400 shares during the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in shares of SeaChange International during the 2nd quarter worth approximately $257,000. 62.79% of the stock is currently owned by institutional investors and hedge funds.

SeaChange International Company Profile

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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