Insider Buying: SeaChange International (NASDAQ:SEAC) Major Shareholder Purchases 361,200 Shares of Stock

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SeaChange International (NASDAQ:SEAC) major shareholder Karen Singer purchased 361,200 shares of the company’s stock in a transaction dated Friday, January 18th. The stock was bought at an average cost of $1.66 per share, for a total transaction of $599,592.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Karen Singer also recently made the following trade(s):

  • On Friday, February 8th, Karen Singer purchased 50,504 shares of SeaChange International stock. The stock was bought at an average cost of $1.63 per share, for a total transaction of $82,321.52.
  • On Monday, February 4th, Karen Singer purchased 85,908 shares of SeaChange International stock. The stock was bought at an average cost of $1.57 per share, for a total transaction of $134,875.56.
  • On Tuesday, January 15th, Karen Singer acquired 800 shares of SeaChange International stock. The stock was acquired at an average cost of $1.62 per share, for a total transaction of $1,296.00.
  • On Wednesday, January 9th, Karen Singer acquired 104,840 shares of SeaChange International stock. The stock was acquired at an average cost of $1.58 per share, for a total transaction of $165,647.20.
  • On Monday, January 7th, Karen Singer acquired 45,660 shares of SeaChange International stock. The stock was acquired at an average cost of $1.46 per share, for a total transaction of $66,663.60.
  • On Friday, January 4th, Karen Singer acquired 45,000 shares of SeaChange International stock. The stock was acquired at an average cost of $1.42 per share, for a total transaction of $63,900.00.
  • On Friday, December 28th, Karen Singer acquired 1,300 shares of SeaChange International stock. The stock was acquired at an average cost of $1.24 per share, for a total transaction of $1,612.00.
  • On Thursday, December 27th, Karen Singer acquired 11,090 shares of SeaChange International stock. The stock was acquired at an average cost of $1.23 per share, for a total transaction of $13,640.70.
  • On Friday, December 21st, Karen Singer acquired 1,998 shares of SeaChange International stock. The stock was acquired at an average cost of $1.18 per share, for a total transaction of $2,357.64.
  • On Monday, December 24th, Karen Singer acquired 2,596 shares of SeaChange International stock. The stock was acquired at an average cost of $1.18 per share, for a total transaction of $3,063.28.

Shares of NASDAQ SEAC traded down $0.05 during midday trading on Friday, hitting $1.71. 53,388 shares of the stock traded hands, compared to its average volume of 120,931. The stock has a market capitalization of $62.93 million, a price-to-earnings ratio of 15.55 and a beta of 0.77. SeaChange International has a one year low of $1.13 and a one year high of $3.47.

SeaChange International (NASDAQ:SEAC) last released its quarterly earnings results on Monday, December 10th. The software maker reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.06. The firm had revenue of $18.61 million for the quarter, compared to analysts’ expectations of $17.31 million. SeaChange International had a negative return on equity of 15.15% and a net margin of 3.28%. As a group, analysts expect that SeaChange International will post -0.4 EPS for the current fiscal year.

Separately, Zacks Investment Research raised SeaChange International from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. SeaChange International presently has a consensus rating of “Hold” and an average price target of $3.25.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEAC. B. Riley Financial Inc. bought a new position in shares of SeaChange International during the 3rd quarter valued at $68,000. Managed Asset Portfolios LLC lifted its holdings in shares of SeaChange International by 131.9% during the 4th quarter. Managed Asset Portfolios LLC now owns 135,215 shares of the software maker’s stock valued at $170,000 after buying an additional 76,915 shares during the period. King Luther Capital Management Corp bought a new position in shares of SeaChange International during the 3rd quarter valued at $179,000. JPMorgan Chase & Co. lifted its holdings in shares of SeaChange International by 29.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 219,567 shares of the software maker’s stock valued at $393,000 after buying an additional 50,336 shares during the period. Finally, Bridgeway Capital Management Inc. lifted its holdings in shares of SeaChange International by 44.4% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 260,000 shares of the software maker’s stock valued at $465,000 after buying an additional 80,000 shares during the period. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

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SeaChange International Company Profile

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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