SeaChange International, Inc. (NASDAQ:SEAC – Get Rating) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 242,500 shares, a drop of 27.6% from the August 15th total of 334,800 shares. Based on an average daily trading volume, of 951,500 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.7% of the shares of the company are sold short.
SeaChange International Trading Up 4.6 %
Shares of NASDAQ SEAC traded up $0.02 during mid-day trading on Friday, hitting $0.48. The company had a trading volume of 261,347 shares, compared to its average volume of 284,603. SeaChange International has a 1 year low of $0.38 and a 1 year high of $3.44. The company has a market capitalization of $24.03 million, a price-to-earnings ratio of -1.85 and a beta of 1.05. The stock's 50-day moving average price is $0.55 and its 200-day moving average price is $0.80.
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Analyst Ratings Changes
Separately, StockNews.com began coverage on shares of SeaChange International in a research note on Saturday, September 10th. They issued a "hold" rating for the company.
Insiders Place Their Bets
In other news, major shareholder Karen Singer acquired 341,000 shares of the firm's stock in a transaction that occurred on Friday, July 15th. The stock was bought at an average price of $0.58 per share, with a total value of $197,780.00. Following the acquisition, the insider now owns 8,156,770 shares in the company, valued at approximately $4,730,926.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 1,383,265 shares of company stock valued at $784,294 over the last ninety days. 4.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in shares of SeaChange International in the first quarter worth about $38,000. Virtu Financial LLC purchased a new stake in SeaChange International in the 1st quarter worth approximately $39,000. US Bancorp DE bought a new position in SeaChange International in the 1st quarter valued at $41,000. Personal CFO Solutions LLC purchased a new position in shares of SeaChange International during the 1st quarter valued at $41,000. Finally, Vanguard Group Inc. increased its holdings in shares of SeaChange International by 6.7% in the first quarter. Vanguard Group Inc. now owns 1,819,336 shares of the software maker's stock worth $2,056,000 after purchasing an additional 114,207 shares during the period. Institutional investors own 26.11% of the company's stock.
About SeaChange International
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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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