StockNews.com Initiates Coverage on SeaChange International (NASDAQ:SEAC)

Stock analysts at StockNews.com assumed coverage on shares of SeaChange International (NASDAQ:SEACGet Rating) in a research note issued on Sunday. The brokerage set a “hold” rating on the software maker’s stock.

SeaChange International Price Performance

Shares of SEAC stock opened at $0.48 on Friday. The stock has a market capitalization of $24.03 million, a PE ratio of -1.85 and a beta of 1.05. SeaChange International has a 1-year low of $0.38 and a 1-year high of $3.44. The business has a 50-day moving average of $0.55 and a 200 day moving average of $0.80.

Insider Activity at SeaChange International

In related news, major shareholder Karen Singer bought 280,182 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The stock was bought at an average cost of $0.54 per share, for a total transaction of $151,298.28. Following the acquisition, the insider now directly owns 6,615,415 shares of the company’s stock, valued at approximately $3,572,324.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 1,383,265 shares of company stock worth $784,294 in the last ninety days. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On SeaChange International

Several institutional investors and hedge funds have recently bought and sold shares of SEAC. Personal CFO Solutions LLC purchased a new stake in SeaChange International in the 1st quarter worth approximately $41,000. US Bancorp DE purchased a new stake in SeaChange International in the 1st quarter worth approximately $41,000. Vanguard Group Inc. lifted its holdings in SeaChange International by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 1,819,336 shares of the software maker’s stock worth $2,056,000 after buying an additional 114,207 shares during the period. Renaissance Technologies LLC lifted its holdings in SeaChange International by 689.5% in the 1st quarter. Renaissance Technologies LLC now owns 386,858 shares of the software maker’s stock worth $437,000 after buying an additional 337,858 shares during the period. Finally, Jane Street Group LLC purchased a new stake in SeaChange International in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 26.11% of the company’s stock.

About SeaChange International

(Get Rating)

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 advertising content worldwide. The company offers video products, including video back-office, a software platform that enables content and service providers to manage, monetize and deliver a seamless viewing experience to subscribers across televisions, personal computers (PCs), tablets, smart phones, and other IP-enabled devices; and media asset management software, which is used to receive, manage and publish video content for viewing on televisions, tablets, PCs and other consumer devices.

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