LPL Financial LLC Grows Stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

LPL Financial LLC lifted its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,787 shares of the company’s stock after purchasing an additional 6,719 shares during the period. LPL Financial LLC owned about 0.08% of Bright Horizons Family Solutions worth $5,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BFAM. Russell Investments Group Ltd. increased its stake in shares of Bright Horizons Family Solutions by 140.3% during the fourth quarter. Russell Investments Group Ltd. now owns 9,359 shares of the company’s stock worth $1,037,000 after purchasing an additional 5,465 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Bright Horizons Family Solutions by 194.8% during the fourth quarter. Federated Hermes Inc. now owns 914 shares of the company’s stock worth $101,000 after purchasing an additional 604 shares in the last quarter. Bank of Montreal Can grew its stake in Bright Horizons Family Solutions by 3.6% during the 4th quarter. Bank of Montreal Can now owns 2,912 shares of the company’s stock valued at $323,000 after acquiring an additional 101 shares in the last quarter. Bank of Nova Scotia purchased a new stake in Bright Horizons Family Solutions during the 4th quarter valued at about $355,000. Finally, Treasurer of the State of North Carolina grew its stake in Bright Horizons Family Solutions by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 25,336 shares of the company’s stock valued at $2,808,000 after acquiring an additional 150 shares in the last quarter.

Bright Horizons Family Solutions Stock Performance

NYSE:BFAM opened at $117.48 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 38.52 and a beta of 1.34. The company’s 50-day moving average is $119.65 and its two-hundred day moving average is $122.17. Bright Horizons Family Solutions Inc. has a 1-year low of $103.75 and a 1-year high of $141.90.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Thursday, July 31st. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The company had revenue of $731.57 million for the quarter, compared to analyst estimates of $724.32 million. Bright Horizons Family Solutions had a net margin of 6.34% and a return on equity of 15.31%. Bright Horizons Family Solutions’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. Analysts forecast that Bright Horizons Family Solutions Inc. will post 3.61 EPS for the current year.

Insider Activity

In other Bright Horizons Family Solutions news, CFO Elizabeth J. Boland sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $132.16, for a total value of $462,560.00. Following the transaction, the chief financial officer directly owned 80,162 shares in the company, valued at $10,594,209.92. The trade was a 4.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mary Lou Burke sold 1,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $128.99, for a total transaction of $128,990.00. Following the completion of the transaction, the chief operating officer owned 28,449 shares in the company, valued at $3,669,636.51. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,282 shares of company stock valued at $2,212,923. Company insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BFAM shares. Jefferies Financial Group cut shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating and dropped their price objective for the company from $146.00 to $135.00 in a research note on Monday, June 23rd. Morgan Stanley dropped their price objective on shares of Bright Horizons Family Solutions from $106.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.75.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.