Edenbrook Capital, Llc Purchases 2,973 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc acquired 2,973 shares of Brightcove stock in a transaction on Friday, May 20th. The shares were bought at an average cost of $6.85 per share, with a total value of $20,365.05. Following the completion of the purchase, the insider now owns 4,776,904 shares in the company, valued at $32,721,792.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Monday, May 23rd, Edenbrook Capital, Llc acquired 3 shares of Brightcove stock. The shares were bought at an average cost of $6.75 per share, with a total value of $20.25.
  • On Wednesday, May 18th, Edenbrook Capital, Llc bought 485 shares of Brightcove stock. The shares were acquired at an average price of $6.85 per share, for a total transaction of $3,322.25.
  • On Monday, May 16th, Edenbrook Capital, Llc bought 16,000 shares of Brightcove stock. The shares were acquired at an average price of $6.88 per share, for a total transaction of $110,080.00.
  • On Monday, May 9th, Edenbrook Capital, Llc bought 5,400 shares of Brightcove stock. The shares were acquired at an average price of $6.72 per share, for a total transaction of $36,288.00.
  • On Thursday, May 5th, Edenbrook Capital, Llc purchased 9,581 shares of Brightcove stock. The stock was purchased at an average price of $6.79 per share, for a total transaction of $65,054.99.
  • On Wednesday, April 27th, Edenbrook Capital, Llc bought 4,900 shares of Brightcove stock. The shares were bought at an average price of $6.62 per share, for a total transaction of $32,438.00.

Brightcove stock traded down $0.03 during mid-day trading on Tuesday, hitting $6.78. The company’s stock had a trading volume of 87,762 shares, compared to its average volume of 191,898. The stock has a market capitalization of $281.72 million, a P/E ratio of -226.33 and a beta of 0.79. Brightcove Inc. has a twelve month low of $6.52 and a twelve month high of $15.00. The stock’s fifty day moving average price is $7.36 and its two-hundred day moving average price is $8.57.

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

Large investors have recently modified their holdings of the business. Credit Suisse AG boosted its stake in shares of Brightcove by 20.8% during the 3rd quarter. Credit Suisse AG now owns 19,554 shares of the software maker’s stock valued at $226,000 after buying an additional 3,361 shares during the period. Strs Ohio lifted its stake in shares of Brightcove by 203.4% in the 4th quarter. Strs Ohio now owns 27,000 shares of the software maker’s stock valued at $275,000 after purchasing an additional 18,100 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake in shares of Brightcove by 53.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,416 shares of the software maker’s stock valued at $120,000 after purchasing an additional 3,607 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Brightcove in the 4th quarter valued at $155,000. Finally, AXA S.A. acquired a new stake in shares of Brightcove in the 3rd quarter valued at $1,687,000. 84.67% of the stock is owned by institutional investors.

A number of research analysts have weighed in on the company. Zacks Investment Research raised Brightcove from a “hold” rating to a “strong-buy” rating and set a $8.00 price target on the stock in a research note on Wednesday, May 4th. StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a report on Sunday, May 15th. TheStreet downgraded Brightcove from a “c” rating to a “d” rating in a report on Friday, April 29th. Finally, Lake Street Capital restated a “hold” rating and set a $9.00 target price (down from $14.00) on shares of Brightcove in a research note on Thursday, February 17th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Brightcove has a consensus rating of “Buy” and a consensus target price of $17.50.

Brightcove Company Profile (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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