Dimensional Fund Advisors LP lessened its holdings in SeaChange International (NASDAQ:SEAC) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,784,116 shares of the software maker’s stock after selling 60,117 shares during the period. Dimensional Fund Advisors LP owned about 5.05% of SeaChange International worth $4,889,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of SEAC. Bank of New York Mellon Corp boosted its position in SeaChange International by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 213,810 shares of the software maker’s stock valued at $569,000 after purchasing an additional 1,918 shares during the last quarter. Northern Trust Corp boosted its position in SeaChange International by 5.7% during the second quarter. Northern Trust Corp now owns 87,357 shares of the software maker’s stock valued at $232,000 after purchasing an additional 4,702 shares during the last quarter. Bourgeon Capital Management LLC boosted its position in SeaChange International by 12.6% during the third quarter. Bourgeon Capital Management LLC now owns 224,172 shares of the software maker’s stock valued at $614,000 after purchasing an additional 25,046 shares during the last quarter. Eidelman Virant Capital lifted its position in shares of SeaChange International by 27.8% in the third quarter. Eidelman Virant Capital now owns 228,013 shares of the software maker’s stock worth $624,000 after buying an additional 49,591 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of SeaChange International in the second quarter worth about $132,000. 75.09% of the stock is owned by institutional investors and hedge funds.
In other news, insider Opportunities Fund Lp Se Viex sold 648,735 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $3.50, for a total value of $2,270,572.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by insiders.
SeaChange International (NASDAQ:SEAC) last released its quarterly earnings data on Wednesday, December 6th. The software maker reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $23.43 million for the quarter, compared to the consensus estimate of $19.50 million. SeaChange International had a negative return on equity of 5.91% and a negative net margin of 42.52%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.13) earnings per share. equities analysts forecast that SeaChange International will post 0.03 EPS for the current fiscal year.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded SeaChange International from a “hold” rating to a “strong-buy” rating and set a $4.00 price objective on the stock in a research note on Wednesday, December 13th. Lake Street Capital upgraded SeaChange International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $3.00 to $4.00 in a research note on Thursday, December 7th. Finally, Dougherty & Co lifted their price objective on SeaChange International from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Thursday, December 7th.
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SeaChange International 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.
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