SeaChange International (NASDAQ:SEAC) shares reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $3.48 and last traded at $2.80, with a volume of 313100 shares changing hands. The stock had previously closed at $2.74.
The software maker reported $0.09 EPS for the quarter, beating the consensus estimate of $0.01 by $0.08. SeaChange International had a negative net margin of 54.54% and a negative return on equity of 15.80%. The business had revenue of $23.43 million during the quarter, compared to analysts’ expectations of $19.50 million. During the same period in the previous year, the business posted ($0.13) EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year.
Several analysts have commented on SEAC shares. Zacks Investment Research cut shares of SeaChange International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Lake Street Capital upgraded shares of SeaChange International from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.00 to $4.00 in a research note on Thursday. Finally, Dougherty & Co boosted their target price on shares of SeaChange International from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Thursday.
Several institutional investors and hedge funds have recently bought and sold shares of SEAC. Roumell Asset Management LLC lifted its stake in shares of SeaChange International by 28.8% in the 3rd quarter. Roumell Asset Management LLC now owns 1,215,205 shares of the software maker’s stock valued at $3,330,000 after purchasing an additional 271,870 shares during the period. Vanguard Group Inc. increased its holdings in SeaChange International by 37.4% in the 2nd quarter. Vanguard Group Inc. now owns 885,728 shares of the software maker’s stock worth $2,356,000 after acquiring an additional 240,917 shares in the last quarter. Connors Investor Services Inc. increased its holdings in SeaChange International by 31.5% in the 2nd quarter. Connors Investor Services Inc. now owns 669,237 shares of the software maker’s stock worth $1,780,000 after acquiring an additional 160,355 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in SeaChange International by 10.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,171,036 shares of the software maker’s stock worth $3,209,000 after acquiring an additional 108,601 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in SeaChange International by 3.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,505,775 shares of the software maker’s stock worth $6,866,000 after acquiring an additional 91,277 shares in the last quarter. Hedge funds and other institutional investors own 73.53% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “SeaChange International (SEAC) Hits New 1-Year High After Strong Earnings” was first published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.thelincolnianonline.com/2017/12/07/seachange-international-seac-hits-new-1-year-high-after-strong-earnings.html.
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.
Receive News & Ratings for SeaChange International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SeaChange International and related companies with MarketBeat.com's FREE daily email newsletter.