Walleye Capital LLC Reduces Position in Brightcove Inc. (NASDAQ:BCOV)

Walleye Capital LLC lessened its holdings in shares of Brightcove Inc. (NASDAQ:BCOVGet Rating) by 50.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,364 shares of the software maker’s stock after selling 22,554 shares during the quarter. Walleye Capital LLC owned approximately 0.05% of Brightcove worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Brightcove by 27.2% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 34,665 shares of the software maker’s stock valued at $270,000 after buying an additional 7,402 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Brightcove by 150.0% during 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 in the last quarter. Strs Ohio lifted its stake in shares of Brightcove by 5.9% during the 2nd quarter. Strs Ohio now owns 45,000 shares of the software maker’s stock valued at $284,000 after buying an additional 2,500 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Brightcove during the 1st quarter valued at $89,000. Finally, Zebra Capital Management LLC purchased a new position in shares of Brightcove during the 1st quarter valued at $81,000. Hedge funds and other institutional investors own 86.21% of the company’s stock.

Insider Transactions at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,688 shares of Brightcove stock in a transaction dated Wednesday, November 16th. The shares were purchased at an average cost of $5.49 per share, for a total transaction of $113,577.12. Following the acquisition, the insider now directly owns 5,608,490 shares in the company, valued at approximately $30,790,610.10. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 398,852 shares of company stock worth $2,408,596 in the last three months. Insiders own 3.70% of the company’s stock.

Brightcove Stock Performance

Shares of NASDAQ BCOV opened at $5.57 on Friday. The company has a market cap of $234.33 million, a P/E ratio of -69.63 and a beta of 0.68. The firm’s fifty day moving average is $6.32 and its two-hundred day moving average is $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 announced its quarterly earnings results 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. The company had revenue of $53.90 million for the quarter, compared to the consensus estimate 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 for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. As a group, analysts forecast that Brightcove Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BCOV shares. Rosenblatt Securities started coverage on shares of Brightcove in a research note on Thursday, September 8th. They set a “neutral” rating and a $8.00 target price on the stock. StockNews.com downgraded shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 3rd.

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.

See Also

Institutional Ownership by Quarter for Brightcove (NASDAQ:BCOV)

Receive News & Ratings for Brightcove Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightcove and related companies with MarketBeat.com's FREE daily email newsletter.