SeaChange International (SEAC) reported quarterly earnings results on Thursday, Sep-1-2016. The company reported $-0.21 EPS for the quarter. Analysts had a consensus estimate of $-0.21. The company posted revenue of $18.50 million in the period, compared to analysts expectations of $18.41 million. The company’s revenue was down -33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.
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 .Shares were Downgraded by Lake Street on Aug 24, 2016 to ” Hold” and Lowered the Price Target to $ 3 from a previous price target of $4.50 .
SeaChange International opened for trading at $2.8 and hit $2.91 on the upside on Monday, eventually ending the session at $2.91, with a gain of 4.68% or 0.13 points. The heightened volatility saw the trading volume jump to 1,27,204 shares. Company has a market cap of $102 M.
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.