Nantahala Capital Management LLC Buys New Position in Brightcove Inc. (NASDAQ:BCOV)

Nantahala Capital Management LLC purchased a new stake in Brightcove Inc. (NASDAQ:BCOV) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,313,768 shares of the software maker’s stock, valued at approximately $3,114,000. Nantahala Capital Management LLC owned about 2.95% of Brightcove at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BCOV. Pitcairn Co. purchased a new position in shares of Brightcove in the 1st quarter worth approximately $27,000. Price T Rowe Associates Inc. MD bought a new position in shares of Brightcove during the 1st quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Brightcove during the 1st quarter worth approximately $33,000. Aaron Wealth Advisors LLC bought a new stake in shares of Brightcove in the 2nd quarter worth approximately $34,000. Finally, XTX Topco Ltd purchased a new position in Brightcove in the second quarter valued at approximately $36,000. 80.12% of the stock is currently owned by institutional investors.

Brightcove Stock Performance

Shares of BCOV opened at $2.16 on Tuesday. Brightcove Inc. has a 52-week low of $1.55 and a 52-week high of $3.37. The stock’s 50-day simple moving average is $2.16 and its 200 day simple moving average is $2.09. The stock has a market capitalization of $96.30 million, a price-to-earnings ratio of -9.82 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. The firm had revenue of $49.25 million during the quarter. During the same period in the previous year, the business earned ($0.07) earnings per share. On average, research analysts forecast that Brightcove Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Activity at Brightcove

In related news, major shareholder Edenbrook Capital, Llc purchased 30,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $2.01 per share, with a total value of $60,300.00. Following the acquisition, the insider now directly owns 6,561,414 shares of the company’s stock, valued at $13,188,442.14. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have purchased 88,926 shares of company stock valued at $179,825 over the last three months. 3.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

Brightcove Company Profile

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.