SeaChange International (SEAC) was Downgraded by Lake Street to ” Hold” while Lowering the Price Target of the company shares to $ 3 from a previous price target of $4.50 . Earlier the firm had a rating of “Buy ” on the company shares. Lake Street advised their investors in a research report released on Aug 24, 2016.
Many Wall Street Analysts have commented on SeaChange International. Shares were Reiterated by Dougherty & Company on Aug 24, 2016 to “Buy” and Lowered the Price Target to $ 6 from a previous price target of $7 .
On the company’s financial health, SeaChange International reported $-0.20 EPS for the quarter, based on the information available during the earnings call on Jun 7, 2016. Analyst had a consensus estimate of $-0.20. The company had revenue of $21.60 million for the quarter, compared to analysts expectations of $20.75 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.20 EPS.
SeaChange International closed down -0.3 points or -9.04% at $3.02 with 6,16,832 shares getting traded on Tuesday. Post opening the session at $3.1, the shares hit an intraday low of $2.88 and an intraday high of $3.112 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Jun 14, 2016, Mary Palermo Cotton (director) purchased 25,000 shares at $3.36 per share price. According to the SEC, on Apr 13, 2016, Edward Terino (CEO) purchased 40,000 shares at $3.83 per share price.
SeaChange International Inc. (SeaChange) is engaged in the delivery of multiscreen video. The Company’s products and services provide aggregation licensing management and distribution of video primarily movies and television programming and television advertising content to cable television system operators telecommunications and media companies. The Company sells software products and services primarily to television service providers including cable television system operators telecommunications companies and media companies. The Company’s business consists of three product areas: multiscreen video television advertising and video gateway software. The Company offers multiscreen video products under two deployment options: on-site software licenses and on a SaaS basis. The Company offers SeaChange Infusion Advanced Advertising Platform SeaChange Infusion AdPulse On-Demand Advertising Software and SeaChange AdFlow.