Brightcove (NASDAQ:BCOV) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Brightcove (NASDAQ:BCOVGet Rating) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Separately, Rosenblatt Securities initiated coverage on Brightcove in a research note on Thursday, September 8th. They set a neutral rating and a $8.00 price objective on the stock.

Brightcove Stock Performance

NASDAQ:BCOV opened at $5.93 on Thursday. Brightcove has a 52-week low of $5.73 and a 52-week high of $10.52. The firm has a market cap of $249.49 million, a price-to-earnings ratio of -74.13 and a beta of 0.68. The business’s fifty day moving average is $6.55 and its 200 day moving average is $6.63.

Brightcove (NASDAQ:BCOVGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Brightcove had a positive return on equity of 1.91% and a negative net margin of 1.49%. The company had revenue of $53.90 million for the quarter, compared to analyst estimates of $52.50 million. During the same period in the previous year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts predict that Brightcove will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 6,800 shares of the firm’s stock in a transaction on Wednesday, October 12th. The shares were acquired at an average cost of $6.25 per share, for a total transaction of $42,500.00. Following the purchase, the insider now directly owns 5,319,032 shares of the company’s stock, valued at $33,243,950. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 225,937 shares of company stock worth $1,480,777 in the last ninety days. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brightcove

Several institutional investors have recently modified their holdings of the company. AMH Equity Ltd bought a new position in shares of Brightcove during the 3rd quarter valued at about $1,575,000. SG Americas Securities LLC bought a new position in shares of Brightcove during the 3rd quarter valued at about $132,000. Allspring Global Investments Holdings LLC increased its position in shares of Brightcove by 3,240.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,728 shares of the software maker’s stock valued at $508,000 after purchasing an additional 78,311 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Brightcove by 10.4% during the 2nd quarter. Federated Hermes Inc. now owns 2,435,901 shares of the software maker’s stock valued at $15,395,000 after purchasing an additional 230,456 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Brightcove by 80.0% during the 2nd quarter. Jane Street Group LLC now owns 20,495 shares of the software maker’s stock valued at $130,000 after purchasing an additional 9,110 shares during the last quarter. 86.21% of the stock is currently owned by institutional investors.

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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