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Jeff Smith and Starboard Value Lower Stake in SeaChange International

Jeff Smith, Starboard Value: Activist hedge fund manager Jeff Smith has just disclosed that his firm, Starboard Value, now holds 4.99% of Seachange International (NASDAQ:SEAC), down from the 6.8% stake it reported last week.

Jeff Smith

According to Multichannel News, several companies from the industry are looking into acquiring SeaChange International, with Rovi Corporation (NASDAQ:ROVI) and TiVo Inc. (NASDAQ:TIVO) being names particularly interested in signing a deal. SeaChange reported product revenues up by 20% on the year, which totaled $16.2 million in the second quarter of fiscal 2014. The company also posted a GAAP operating income worth $0.5 million, versus a loss of $7.5 million in the year-ago quarter.

Jim Roumell‘s Roumell Asset Management owns some 887,700 shares of SeaChange International, followed by Jason F. Harris‘ Kendall Square Capital with a stake of 342,900 shares.

Disclosure: none

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