Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Edenbrook Capital, Llc Acquires 10,976 Shares

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc acquired 10,976 shares of the stock in a transaction on Thursday, November 3rd. The stock was bought at an average price of $5.98 per share, with a total value of $65,636.48. Following the completion of the acquisition, the insider now directly owns 5,336,731 shares of the company’s stock, valued at $31,913,651.38. The purchase was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Monday, November 7th, Edenbrook Capital, Llc bought 100,000 shares of Brightcove stock. The stock was purchased at an average price of $5.59 per share, with a total value of $559,000.00.
  • On Thursday, October 27th, Edenbrook Capital, Llc acquired 2,362 shares of Brightcove stock. The stock was purchased at an average price of $6.50 per share, with a total value of $15,353.00.
  • On Wednesday, October 12th, Edenbrook Capital, Llc bought 6,800 shares of Brightcove stock. The shares were acquired at an average price of $6.25 per share, for a total transaction of $42,500.00.
  • On Monday, October 10th, Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock. The stock was acquired at an average price of $6.40 per share, with a total value of $128,000.00.
  • On Friday, September 30th, Edenbrook Capital, Llc bought 27,110 shares of Brightcove stock. The shares were acquired at an average cost of $6.34 per share, with a total value of $171,877.40.
  • On Wednesday, September 28th, Edenbrook Capital, Llc purchased 2,539 shares of Brightcove stock. The stock was bought at an average cost of $6.40 per share, for a total transaction of $16,249.60.
  • On Monday, September 26th, Edenbrook Capital, Llc acquired 2,131 shares of Brightcove stock. The shares were bought at an average price of $6.40 per share, with a total value of $13,638.40.
  • On Thursday, September 22nd, Edenbrook Capital, Llc bought 27,700 shares of Brightcove stock. The stock was bought at an average cost of $6.46 per share, for a total transaction of $178,942.00.
  • On Tuesday, September 20th, Edenbrook Capital, Llc purchased 15,000 shares of Brightcove stock. The shares were bought at an average price of $6.61 per share, with a total value of $99,150.00.
  • On Thursday, September 15th, Edenbrook Capital, Llc purchased 16,369 shares of Brightcove stock. The stock was purchased at an average price of $6.63 per share, for a total transaction of $108,526.47.

Brightcove Stock Performance

Shares of NASDAQ:BCOV opened at $5.52 on Tuesday. The firm has a market cap of $232.24 million, a price-to-earnings ratio of -69.00 and a beta of 0.68. The business has a 50-day simple moving average of $6.54 and a two-hundred day simple moving average of $6.62. Brightcove Inc. has a fifty-two week low of $5.50 and a fifty-two week high of $10.52.

Brightcove (NASDAQ:BCOVGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The software maker reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. As a group, research analysts predict that Brightcove Inc. will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. StockNews.com cut shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 3rd. Rosenblatt Securities started 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.

Institutional Investors Weigh In On Brightcove

A number of hedge funds have recently added to or reduced their stakes in BCOV. AMH Equity Ltd bought a new stake in shares of Brightcove in the third quarter worth $1,575,000. SG Americas Securities LLC bought a new stake 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. lifted its stake in shares of Brightcove by 10.4% in the 2nd quarter. Federated Hermes Inc. now owns 2,435,901 shares of the software maker’s stock worth $15,395,000 after purchasing an additional 230,456 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Brightcove by 80.0% in the second quarter. Jane Street Group LLC now owns 20,495 shares of the software maker’s stock worth $130,000 after buying an additional 9,110 shares during the last quarter. 86.21% of the stock is currently owned by hedge funds and other 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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