Hillsdale Investment Management Inc. Cuts Stake in Brightcove Inc. (NASDAQ:BCOV)

Hillsdale Investment Management Inc. cut its holdings in Brightcove Inc. (NASDAQ:BCOV) by 33.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,900 shares of the software maker’s stock after selling 21,000 shares during the period. Hillsdale Investment Management Inc. owned 0.09% of Brightcove worth $178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Globeflex Capital L P bought a new stake in shares of Brightcove during the fourth quarter valued at approximately $75,000. R Squared Ltd bought a new stake in Brightcove in the 4th quarter valued at $90,000. JPMorgan Chase & Co. lifted its stake in Brightcove by 99.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock worth $66,000 after purchasing an additional 15,291 shares in the last quarter. Bailard Inc. purchased a new stake in Brightcove in the 4th quarter worth $156,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of Brightcove during the 4th quarter valued at about $159,000. 80.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BCOV has been the topic of a number of research analyst reports. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. StockNews.com began coverage on Brightcove in a report on Monday. They set a “buy” rating on the stock. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $4.45 target price (down from $5.00) on shares of Brightcove in a report on Monday, November 25th.

Brightcove Stock Performance

Shares of NASDAQ:BCOV opened at $4.45 on Tuesday. The company has a market cap of $202.12 million, a price-to-earnings ratio of -21.19 and a beta of 1.01. Brightcove Inc. has a 12 month low of $1.55 and a 12 month high of $4.46. The company has a 50-day moving average price of $4.44 and a 200 day moving average price of $3.59.

About Brightcove

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.