Walleye Capital LLC Lowers Stock Holdings in Brightcove Inc. (NASDAQ:BCOV)

Walleye Capital LLC trimmed its stake in Brightcove Inc. (NASDAQ:BCOVGet Rating) by 50.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 22,364 shares of the software maker’s stock after selling 22,554 shares during the period. Walleye Capital LLC’s holdings in Brightcove were worth $141,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Trigran Investments Inc. boosted its position in Brightcove by 3.2% in the 2nd quarter. Trigran Investments Inc. now owns 6,304,155 shares of the software maker’s stock valued at $39,842,000 after buying an additional 198,097 shares during the period. Versant Capital Management Inc boosted its position in Brightcove by 150.0% in the 2nd quarter. Versant Capital Management Inc now owns 25,000 shares of the software maker’s stock valued at $158,000 after buying an additional 15,000 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Brightcove in the 2nd quarter valued at about $2,778,000. Dupont Capital Management Corp lifted its position in shares of Brightcove by 54.4% in the 2nd quarter. Dupont Capital Management Corp now owns 42,830 shares of the software maker’s stock worth $271,000 after purchasing an additional 15,095 shares during the period. Finally, Strs Ohio lifted its position in shares of Brightcove by 5.9% in the 2nd quarter. Strs Ohio now owns 45,000 shares of the software maker’s stock worth $284,000 after purchasing an additional 2,500 shares during the period. 86.21% of the stock is owned by hedge funds and other institutional investors.

Brightcove Stock Up 1.8 %

NASDAQ BCOV opened at $5.57 on Friday. The firm has a market cap of $234.33 million, a PE ratio of -69.63 and a beta of 0.68. The company has a 50 day moving average price of $6.32 and a 200 day moving average price of $6.53. Brightcove Inc. has a 52 week low of $5.17 and a 52 week high of $10.52.

Brightcove (NASDAQ:BCOVGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The software maker reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $53.90 million during the quarter, compared to analyst estimates of $52.50 million. Brightcove had a negative net margin of 1.49% and a positive return on equity of 1.91%. Brightcove’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. On average, equities research analysts anticipate that Brightcove Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc acquired 15,000 shares of Brightcove stock in a transaction that occurred on Thursday, August 25th. The stock was purchased at an average price of $6.59 per share, for a total transaction of $98,850.00. Following the purchase, the insider now directly owns 4,919,702 shares in the company, valued at approximately $32,420,836.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 398,852 shares of company stock worth $2,408,596 in the last 90 days. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BCOV has been the subject of several research reports. Rosenblatt Securities initiated coverage on shares of Brightcove in a research report on Thursday, September 8th. They issued a “neutral” rating and a $8.00 price target for the company. StockNews.com cut shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 3rd.

Brightcove Company Profile

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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.

See Also

Want to see what other hedge funds are holding BCOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brightcove Inc. (NASDAQ:BCOVGet Rating).

Institutional Ownership by Quarter for Brightcove (NASDAQ:BCOV)

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