SeaChange International (NASDAQ:SEAC) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of SeaChange International (NASDAQ:SEAC – Get Rating) in a report released on Wednesday. The firm set a “hold” rating on the software maker’s stock.

SeaChange International Price Performance

Shares of SEAC stock opened at $8.75 on Wednesday. The company has a fifty day moving average price of $0.60 and a two-hundred day moving average price of $0.50. SeaChange International has a one year low of $6.85 and a one year high of $18.37. The stock has a market cap of $441.88 million, a P/E ratio of -38.04 and a beta of 1.05.

Institutional Investors Weigh In On SeaChange International

Several hedge funds have recently added to or reduced their stakes in SEAC. Jane Street Group LLC bought a new position in shares of SeaChange International in the first quarter valued at about $38,000. Weil Company Inc. acquired a new position in shares of SeaChange International in the fourth quarter valued at approximately $38,000. Bank of America Corp DE increased its stake in shares of SeaChange International by 122,509.1% during the first quarter. Bank of America Corp DE now owns 107,896 shares of the software maker’s stock worth $39,000 after purchasing an additional 107,808 shares during the period. Virtu Financial LLC acquired a new stake in SeaChange International during the 1st quarter worth approximately $39,000. Finally, US Bancorp DE bought a new stake in SeaChange International in the 1st quarter valued at $41,000. Institutional investors and hedge funds own 24.21% of the company’s stock.

SeaChange International Company Profile

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SeaChange International, Inc engages in the provision of multiscreen video delivery and advertising solutions. Its products and services include video platform, content management, advertising, user experience, maintenance and support, framework and support services, and professional services. It operates through the following geographical segments: North America, Europe and Middle East, Latin America, and Asia Pacific.