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Stock Market & Financial Investment News

News Breaks
January 9, 2013
09:09 EDTSEACSeaChange initiated with a Buy at Sidoti
Target $13.
News For SEAC From The Last 14 Days
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September 30, 2014
06:17 EDTSEACRoumell sends letter to SeaChange seeking more buybacks
Roumell Asset Management reported a 6.2% stake in SeaChange and said it decided to attempt to discuss increasing purchases under the company's stock buyback program directly with management and the board. Roumell sent a letter, dated September 29, to SeaChange's board, which stated in part, "We believe the Board ought to more fully exercise its own share buy-back plan. The buy-back was increased earlier this year to $40 million, but we are disappointed that thus far a relatively limited number of shares have actually been purchased. In our minds, the company needs no more than $50 million in cash retained on its balance sheet and there are few capital allocation options available that are superior to simply buying back stock given the company’s current valuation. To wit, we want to own more of SeaChange’s actual business and own less cash."

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