SeaChange International (NASDAQ:SEAC) Sees Significant Decline in Short Interest

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SeaChange International (NASDAQ:SEAC) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 141,700 shares, a drop of 5.3% from the May 30th total of 149,700 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 172,200 shares, the short-interest ratio is presently 0.8 days.

In other news, Director Robert M. Pons purchased 20,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average cost of $1.47 per share, for a total transaction of $29,400.00. Following the acquisition, the director now owns 118,039 shares of the company’s stock, valued at $173,517.33. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark J. Bonney purchased 126,749 shares of the stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average price of $1.50 per share, for a total transaction of $190,123.50. Following the completion of the acquisition, the insider now directly owns 351,527 shares in the company, valued at approximately $527,290.50. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in SeaChange International stock. GMT Capital Corp bought a new position in SeaChange International (NASDAQ:SEAC) in the first quarter, according to its most recent filing with the SEC. The firm bought 38,180 shares of the software maker’s stock, valued at approximately $51,000. GMT Capital Corp owned approximately 0.10% of SeaChange International as of its most recent SEC filing. 40.00% of the stock is owned by institutional investors.

SEAC stock opened at $1.70 on Tuesday. The stock has a 50 day moving average of $1.39. The firm has a market cap of $61.87 million, a PE ratio of -4.36 and a beta of 0.87. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.03. SeaChange International has a 52 week low of $1.13 and a 52 week high of $3.33.

SeaChange International (NASDAQ:SEAC) last released its earnings results on Thursday, June 6th. The software maker reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The company had revenue of $8.49 million during the quarter. SeaChange International had a negative return on equity of 30.21% and a negative net margin of 77.53%. Sell-side analysts anticipate that SeaChange International will post -0.31 earnings per share for the current year.

SEAC has been the topic of a number of recent analyst reports. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research cut shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $3.00.

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, as well as SeaChange Rave, an integrated platform.

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