SeaChange International (SEAC) Updates Q4 Earnings Guidance
SeaChange International (NASDAQ:SEAC) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.02-0.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.08. The company issued revenue guidance of $20-$24 million, compared to the consensus revenue estimate of $22.91 million.
Separately, Zacks Investment Research downgraded shares of SeaChange International from a buy rating to a hold rating in a research report on Wednesday, August 9th.
SeaChange International (NASDAQ SEAC) remained flat at $$2.74 during midday trading on Wednesday. 36,100 shares of the stock were exchanged, compared to its average volume of 89,722. SeaChange International has a 1-year low of $2.16 and a 1-year high of $2.99.
An institutional investor recently raised its position in SeaChange International stock. Northern Trust Corp increased its stake in shares of SeaChange International (NASDAQ:SEAC) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period. 73.53% of the stock is owned by institutional investors and hedge funds.
About SeaChange International
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.
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