SeaChange International (NASDAQ:SEAC) released its quarterly earnings results on Wednesday. The software maker reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.08, Bloomberg Earnings reports. The company had revenue of $23.43 million for the quarter, compared to analyst estimates of $19.50 million. SeaChange International had a negative net margin of 54.54% and a negative return on equity of 15.80%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.13) earnings per share. SeaChange International updated its Q4 guidance to $0.02-0.10 EPS.

Shares of SeaChange International (NASDAQ SEAC) opened at $2.80 on Thursday. SeaChange International has a 52-week low of $2.16 and a 52-week high of $2.99.

Separately, Zacks Investment Research upgraded shares of SeaChange International from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Wednesday, September 13th.

An institutional investor recently raised its position in SeaChange International stock. Northern Trust Corp grew its stake in SeaChange International (NASDAQ:SEAC) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,357 shares of the software maker’s stock after purchasing an additional 4,702 shares during the quarter. Northern Trust Corp owned approximately 0.25% of SeaChange International worth $232,000 as of its most recent SEC filing. Institutional investors own 73.53% of the company’s stock.

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SeaChange International Company 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.

Earnings History for SeaChange International (NASDAQ:SEAC)

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