Alambic Investment Management L.P. decreased its position in Brightcove Inc (NASDAQ:BCOV) by 52.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 27,039 shares of the software maker’s stock after selling 30,135 shares during the quarter. Alambic Investment Management L.P. owned 0.07% of Brightcove worth $188,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. California Public Employees Retirement System lifted its holdings in Brightcove by 2.6% during the 4th quarter. California Public Employees Retirement System now owns 48,912 shares of the software maker’s stock valued at $425,000 after purchasing an additional 1,222 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Brightcove by 38.7% during the fourth quarter. Bank of Montreal Can now owns 5,298 shares of the software maker’s stock worth $46,000 after buying an additional 1,478 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Brightcove by 11.9% in the fourth quarter. AQR Capital Management LLC now owns 15,917 shares of the software maker’s stock valued at $138,000 after acquiring an additional 1,695 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Brightcove by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 99,007 shares of the software maker’s stock worth $861,000 after acquiring an additional 2,524 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Brightcove by 60.4% during the 4th quarter. Victory Capital Management Inc. now owns 8,850 shares of the software maker’s stock worth $77,000 after acquiring an additional 3,331 shares during the last quarter. Institutional investors and hedge funds own 82.02% of the company’s stock.
BCOV has been the subject of several research analyst reports. Dougherty & Co reiterated a “buy” rating on shares of Brightcove in a research report on Thursday, February 20th. TheStreet cut Brightcove from a “c-” rating to a “d+” rating in a report on Thursday, March 5th. B. Riley reduced their price target on shares of Brightcove from $13.50 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, BidaskClub upgraded shares of Brightcove from a “sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Brightcove has an average rating of “Buy” and an average price target of $12.33.
Shares of NASDAQ BCOV traded up $0.15 during midday trading on Friday, hitting $8.19. The stock had a trading volume of 150,577 shares, compared to its average volume of 180,414. The company’s 50-day simple moving average is $8.13 and its 200 day simple moving average is $8.39. The firm has a market cap of $313.38 million, a P/E ratio of -12.56 and a beta of 0.79. Brightcove Inc has a fifty-two week low of $5.44 and a fifty-two week high of $12.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.82.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, April 29th. The software maker reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $46.65 million for the quarter, compared to analyst estimates of $48.07 million. Brightcove had a negative return on equity of 8.28% and a negative net margin of 13.09%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Equities analysts expect that Brightcove Inc will post -0.14 EPS for the current fiscal year.
In related news, Director Thomas E. Wheeler purchased 6,400 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were bought at an average price of $7.62 per share, with a total value of $48,768.00. Following the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $157,192.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeff Ray purchased 10,000 shares of Brightcove stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $7.71 per share, for a total transaction of $77,100.00. Following the completion of the transaction, the chief executive officer now directly owns 95,000 shares in the company, valued at $732,450. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.
Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.
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