Brightcove (NASDAQ:BCOV) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a research report issued to clients and investors on Saturday. The brokerage set a “buy” rating on the software maker’s stock.

Brightcove Stock Performance

Shares of Brightcove stock opened at $4.45 on Friday. The stock has a market capitalization of $202.12 million, a P/E ratio of -21.19 and a beta of 1.01. Brightcove has a 52-week low of $1.76 and a 52-week high of $4.46. The stock’s 50-day simple moving average is $4.45 and its 200 day simple moving average is $4.05.

Institutional Investors Weigh In On Brightcove

A number of institutional investors and hedge funds have recently bought and sold shares of BCOV. Beryl Capital Management LLC purchased a new position in Brightcove in the 4th quarter worth $19,575,000. Renaissance Technologies LLC boosted its position in shares of Brightcove by 33.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,832,251 shares of the software maker’s stock valued at $7,970,000 after purchasing an additional 458,019 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Brightcove by 34.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 591,944 shares of the software maker’s stock worth $2,575,000 after buying an additional 151,674 shares during the period. AMH Equity Ltd grew its holdings in Brightcove by 1.5% in the fourth quarter. AMH Equity Ltd now owns 507,513 shares of the software maker’s stock worth $2,208,000 after purchasing an additional 7,513 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Brightcove by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 490,700 shares of the software maker’s stock worth $2,135,000 after acquiring an additional 2,425 shares in the last quarter. 80.12% of the stock is owned by hedge funds and other institutional investors.

About Brightcove

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.