Ariel Investments LLC cut its stake in shares of SeaChange International (NASDAQ:SEAC) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,930,417 shares of the software maker’s stock after selling 1,359,008 shares during the quarter. Ariel Investments LLC owned about 8.25% of SeaChange International worth $11,517,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. CAPROCK Group Inc. acquired a new stake in SeaChange International in the 4th quarter valued at about $108,000. Virtu Financial LLC acquired a new stake in SeaChange International in the 4th quarter valued at about $119,000. Wells Fargo & Company MN grew its stake in SeaChange International by 152.4% in the 4th quarter. Wells Fargo & Company MN now owns 32,044 shares of the software maker’s stock valued at $126,000 after acquiring an additional 19,349 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in SeaChange International in the 4th quarter valued at about $173,000. Finally, Northern Trust Corp grew its stake in SeaChange International by 5.7% in the 2nd quarter. Northern Trust Corp now owns 87,357 shares of the software maker’s stock valued at $232,000 after acquiring an additional 4,702 shares during the last quarter. 73.14% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on SEAC. Lake Street Capital raised shares of SeaChange International from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.00 to $4.00 in a research note on Thursday, December 7th. Dougherty & Co increased their price objective on shares of SeaChange International from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Thursday, December 7th. Finally, Zacks Investment Research raised shares of SeaChange International from a “hold” rating to a “strong-buy” rating and set a $4.00 price objective on the stock in a research note on Wednesday, December 13th.
Shares of SeaChange International (SEAC) opened at $3.11 on Friday. SeaChange International has a 12 month low of $2.16 and a 12 month high of $4.03.
TRADEMARK VIOLATION NOTICE: This news story was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/03/17/ariel-investments-llc-has-11-52-million-stake-in-seachange-international-seac.html.
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.
Receive News & Ratings for SeaChange International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SeaChange International and related companies with MarketBeat.com's FREE daily email newsletter.