Edenbrook Capital, Llc Buys 15,000 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc bought 15,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was purchased at an average price of $6.61 per share, with a total value of $99,150.00. Following the transaction, the insider now owns 5,051,543 shares in the company, valued at approximately $33,390,699.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Thursday, September 15th, Edenbrook Capital, Llc bought 16,369 shares of Brightcove stock. The stock was purchased at an average price of $6.63 per share, with a total value of $108,526.47.
  • On Tuesday, September 13th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The stock was purchased at an average price of $6.75 per share, with a total value of $202,500.00.
  • On Wednesday, September 7th, Edenbrook Capital, Llc bought 25,000 shares of Brightcove stock. The stock was purchased at an average price of $6.62 per share, with a total value of $165,500.00.
  • On Monday, August 29th, Edenbrook Capital, Llc bought 3,600 shares of Brightcove stock. The stock was purchased at an average price of $6.45 per share, with a total value of $23,220.00.
  • On Thursday, August 25th, Edenbrook Capital, Llc acquired 15,000 shares of Brightcove stock. The stock was bought at an average price of $6.59 per share, with a total value of $98,850.00.
  • On Tuesday, August 23rd, Edenbrook Capital, Llc acquired 7,595 shares of Brightcove stock. The stock was bought at an average price of $6.55 per share, with a total value of $49,747.25.
  • On Thursday, August 18th, Edenbrook Capital, Llc acquired 7,849 shares of Brightcove stock. The stock was bought at an average price of $6.68 per share, with a total value of $52,431.32.
  • On Monday, August 15th, Edenbrook Capital, Llc acquired 5,853 shares of Brightcove stock. The stock was bought at an average price of $6.77 per share, with a total value of $39,624.81.
  • On Friday, August 12th, Edenbrook Capital, Llc acquired 11,029 shares of Brightcove stock. The stock was bought at an average price of $6.77 per share, with a total value of $74,666.33.
  • On Monday, August 1st, Edenbrook Capital, Llc acquired 500 shares of Brightcove stock. The stock was bought at an average price of $5.85 per share, with a total value of $2,925.00.

Brightcove Stock Performance

Shares of NASDAQ:BCOV opened at $6.50 on Thursday. The company has a market cap of $272.34 million, a PE ratio of -108.33 and a beta of 0.70. Brightcove Inc. has a 52 week low of $5.84 and a 52 week high of $12.46. The firm has a 50 day simple moving average of $6.51 and a 200 day simple moving average of $6.87.

Brightcove (NASDAQ:BCOVGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Brightcove had a negative net margin of 1.20% and a positive return on equity of 2.63%. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, equities analysts predict that Brightcove Inc. will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On Brightcove

Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in Brightcove in the 1st quarter worth approximately $52,000. Zebra Capital Management LLC purchased a new stake in Brightcove in the 1st quarter worth approximately $81,000. Jane Street Group LLC purchased a new stake in Brightcove in the 1st quarter worth approximately $89,000. Lazard Asset Management LLC purchased a new stake in Brightcove in the 2nd quarter worth approximately $100,000. Finally, American Trust purchased a new stake in Brightcove in the 4th quarter worth approximately $128,000. Hedge funds and other institutional investors own 86.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities initiated coverage on shares of Brightcove in a report on Thursday, September 8th. They issued a “neutral” rating and a $8.00 price objective for the company. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.33.

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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