Magnetar Financial LLC Makes New $705,000 Investment in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Magnetar Financial LLC purchased a new position in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,402 shares of the company’s stock, valued at approximately $705,000.

Other hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. boosted its stake in shares of Bright Horizons Family Solutions by 38.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 105,787 shares of the company’s stock worth $9,969,000 after purchasing an additional 29,417 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Bright Horizons Family Solutions in the first quarter worth approximately $64,735,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Bright Horizons Family Solutions by 141.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 14,784 shares of the company’s stock worth $1,676,000 after acquiring an additional 8,666 shares during the last quarter. Norges Bank acquired a new stake in shares of Bright Horizons Family Solutions in the fourth quarter worth approximately $57,363,000. Finally, M&G Plc acquired a new stake in shares of Bright Horizons Family Solutions in the first quarter worth approximately $27,467,000.

Analyst Upgrades and Downgrades

BFAM has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of Bright Horizons Family Solutions from $115.00 to $131.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays raised their target price on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. raised their target price on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley lifted their price target on shares of Bright Horizons Family Solutions from $92.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Bright Horizons Family Solutions has an average rating of “Hold” and a consensus price target of $129.25.

Bright Horizons Family Solutions Price Performance

Shares of Bright Horizons Family Solutions stock opened at $140.69 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $132.59 and its two-hundred day moving average price is $117.65. Bright Horizons Family Solutions Inc. has a 52 week low of $71.65 and a 52 week high of $141.90. The stock has a market cap of $8.16 billion, a PE ratio of 99.08 and a beta of 1.48.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.15. The firm had revenue of $670.10 million for the quarter, compared to the consensus estimate of $666.17 million. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 EPS. As a group, sell-side analysts anticipate that Bright Horizons Family Solutions Inc. will post 2.98 EPS for the current fiscal year.

Insider Activity

In related news, COO Mary Lou Burke sold 800 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $110.20, for a total transaction of $88,160.00. Following the transaction, the chief operating officer now owns 36,925 shares of the company’s stock, valued at $4,069,135. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel John Guy Casagrande sold 4,235 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $129.86, for a total value of $549,957.10. Following the sale, the general counsel now owns 13,677 shares in the company, valued at $1,776,095.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Mary Lou Burke sold 800 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $110.20, for a total transaction of $88,160.00. Following the completion of the sale, the chief operating officer now owns 36,925 shares in the company, valued at approximately $4,069,135. The disclosure for this sale can be found here. Insiders have sold 24,635 shares of company stock worth $3,198,948 in the last 90 days. Company insiders own 1.22% of the company’s stock.

Bright Horizons Family Solutions 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.