Bright Horizons Family Solutions Inc. (NYSE:BFAM) Stake Raised by Algert Global LLC

Algert Global LLC increased its holdings in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 139.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,961 shares of the company’s stock after acquiring an additional 23,291 shares during the period. Algert Global LLC owned about 0.07% of Bright Horizons Family Solutions worth $4,399,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Millennium Management LLC purchased a new stake in Bright Horizons Family Solutions in the 2nd quarter worth about $28,995,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Bright Horizons Family Solutions in the 2nd quarter worth about $110,000. Squarepoint Ops LLC increased its position in Bright Horizons Family Solutions by 51.3% in the 2nd quarter. Squarepoint Ops LLC now owns 16,821 shares of the company’s stock worth $1,852,000 after purchasing an additional 5,706 shares during the last quarter. Point72 Asset Management L.P. increased its position in Bright Horizons Family Solutions by 64.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 570,423 shares of the company’s stock worth $62,792,000 after purchasing an additional 222,823 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Bright Horizons Family Solutions in the 2nd quarter worth about $3,647,000.

Bright Horizons Family Solutions Stock Performance

Shares of NYSE BFAM opened at $140.13 on Tuesday. The business’s 50-day simple moving average is $134.26 and its 200-day simple moving average is $118.29. Bright Horizons Family Solutions Inc. has a 52 week low of $71.65 and a 52 week high of $141.90. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 98.68 and a beta of 1.48. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.56 and a current ratio of 0.56.

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

Analysts Set New Price Targets

BFAM has been the topic of several research reports. BMO Capital Markets upped their target price on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on 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. Barclays upped their target price on 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. Morgan Stanley upped their target price on Bright Horizons Family Solutions from $92.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th. Finally, The Goldman Sachs Group increased their price objective on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $129.25.

Insiders Place Their Bets

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 800 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $110.20, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $110.20, for a total transaction of $88,160.00. Following the completion of the transaction, the chief operating officer now owns 36,925 shares in the company, valued at approximately $4,069,135. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Ann Tocio sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total value of $327,325.00. Following the transaction, the director now owns 30,257 shares of the company’s stock, valued at approximately $3,961,549.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,635 shares of company stock worth $3,198,948. 1.22% of the stock is currently owned by company insiders.

About Bright Horizons Family Solutions

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.