SeaChange International, Inc. (NASDAQ:SEAC) was the recipient of a significant decline in short interest during the month of 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 trading volume of 11,030,000 shares, the days-to-cover ratio is currently 0.4 days.

In related news, Chairman Robert M. Pons purchased 100,000 shares of the firm’s stock in a transaction dated Monday, April 19th. The stock was bought at an average price of $1.04 per share, for a total transaction of $104,000.00. Following the purchase, the chairman now directly owns 407,815 shares in the company, valued at approximately $424,127.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its position 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 worth $55,000 after acquiring an additional 10,101 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of SeaChange International by 140.9% in the fourth quarter. JPMorgan Chase & Co. now owns 78,946 shares of the software maker’s stock worth $111,000 after buying an additional 46,181 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in SeaChange International by 427.1% during the 4th quarter. GSA Capital Partners LLP now owns 559,796 shares of the software maker’s stock valued at $784,000 after buying an additional 453,602 shares during the last quarter. 25.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of SEAC stock traded down $0.05 on Tuesday, reaching $1.09. The company’s stock had a trading volume of 2,575,926 shares, compared to its average volume of 9,188,457. The company has a market capitalization of $52.47 million, a P/E ratio of -2.48 and a beta of 0.81. 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’s 50 day simple moving average is $1.26 and its 200-day simple moving average is $1.12. SeaChange International has a 12-month low of $0.69 and a 12-month high of $2.99.

SeaChange International (NASDAQ:SEAC) last announced its earnings results on Monday, April 12th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. SeaChange International had a negative net margin of 48.18% and a negative return on equity of 25.60%. Research analysts expect that SeaChange International will post -0.53 EPS for the current year.

SEAC has been the subject of several recent research reports. Zacks Investment Research downgraded shares of SeaChange International from a “hold” rating to a “sell” rating in a research note on Saturday, April 17th. Aegis initiated coverage on SeaChange International in a report on Monday. They issued a “buy” rating and a $3.00 price target for the company.

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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