Edenbrook Capital, Llc Acquires 16,000 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc purchased 16,000 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were purchased at an average cost of $6.88 per share, with a total value of $110,080.00. Following the completion of the transaction, the insider now owns 4,773,446 shares of the company’s stock, valued at approximately $32,841,308.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

  • On Wednesday, May 18th, Edenbrook Capital, Llc acquired 485 shares of Brightcove stock. The stock was bought at an average cost of $6.85 per share, with a total value of $3,322.25.
  • On Monday, May 9th, Edenbrook Capital, Llc acquired 5,400 shares of Brightcove stock. The stock was bought at an average cost of $6.72 per share, with a total value of $36,288.00.
  • On Thursday, May 5th, Edenbrook Capital, Llc acquired 9,581 shares of Brightcove stock. The stock was bought at an average cost of $6.79 per share, with a total value of $65,054.99.
  • On Wednesday, April 27th, Edenbrook Capital, Llc acquired 4,900 shares of Brightcove stock. The stock was bought at an average cost of $6.62 per share, with a total value of $32,438.00.

BCOV traded down $0.03 on Wednesday, hitting $6.98. 154,830 shares of the company’s stock were exchanged, compared to its average volume of 194,449. Brightcove Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $15.00. The firm has a 50-day moving average price of $7.36 and a 200-day moving average price of $8.68. The stock has a market cap of $290.03 million, a price-to-earnings ratio of -232.00 and a beta of 0.79.

Brightcove (NASDAQ:BCOVGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. Brightcove had a positive return on equity of 3.99% and a negative net margin of 0.65%. During the same quarter last year, the firm posted $0.10 EPS. As a group, equities research analysts forecast that Brightcove Inc. will post -0.04 EPS for the current fiscal year.

A number of equities analysts have issued reports on BCOV shares. Lake Street Capital reissued a “hold” rating and set a $9.00 price target (down from $14.00) on shares of Brightcove in a research report on Thursday, February 17th. StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a research note on Sunday. Zacks Investment Research raised shares of Brightcove from a “hold” rating to a “strong-buy” rating and set a $8.00 price objective on the stock in a research note on Wednesday, May 4th. Finally, TheStreet cut shares of Brightcove from a “c” rating to a “d” rating in a research note on Friday, April 29th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $17.50.

A number of institutional investors and hedge funds have recently modified their holdings of BCOV. First Manhattan Co. raised its holdings in Brightcove by 400.0% in the 3rd quarter. First Manhattan Co. now owns 2,500 shares of the software maker’s stock valued at $28,000 after buying an additional 2,000 shares during the period. Point72 Hong Kong Ltd acquired a new position in Brightcove in the 3rd quarter valued at about $44,000. Macquarie Group Ltd. acquired a new position in Brightcove in the 3rd quarter valued at about $45,000. Royal Bank of Canada grew its position in Brightcove by 56.0% in the 3rd quarter. Royal Bank of Canada now owns 4,296 shares of the software maker’s stock valued at $49,000 after acquiring an additional 1,543 shares in the last quarter. Finally, Citigroup Inc. grew its position in Brightcove by 90.4% in the 3rd quarter. Citigroup Inc. now owns 5,439 shares of the software maker’s stock valued at $63,000 after acquiring an additional 2,583 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

About Brightcove (Get Rating)

Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on multiple monetization models; Brightcove Player, a video player technology with a cloud-based service for creating and managing experiences; and Zencoder, a cloud-based video encoding technology.

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Insider Buying and Selling by Quarter for Brightcove (NASDAQ:BCOV)

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