Renaissance Technologies LLC Invests $1.30 Million in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Renaissance Technologies LLC acquired a new stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,800 shares of the company’s stock, valued at approximately $1,299,000.

Several other hedge funds have also recently bought and sold shares of BFAM. Riverview Trust Co purchased a new stake in shares of Bright Horizons Family Solutions during the first quarter worth $25,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Bright Horizons Family Solutions by 850.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 342 shares of the company’s stock worth $38,000 after purchasing an additional 306 shares during the period. YHB Investment Advisors Inc. purchased a new stake in Bright Horizons Family Solutions during the 1st quarter worth about $40,000. Daiwa Securities Group Inc. raised its position in Bright Horizons Family Solutions by 73.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 390 shares of the company’s stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Bright Horizons Family Solutions in the 1st quarter valued at about $153,000.

Insiders Place Their Bets

In other news, COO Mary Lou Burke sold 1,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $120.00, for a total transaction of $120,000.00. Following the completion of the sale, the chief operating officer now owns 35,925 shares in the company, valued at approximately $4,311,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel John Guy Casagrande sold 4,235 shares of Bright Horizons Family Solutions stock in a transaction on Monday, August 5th. The stock was sold at an average price of $129.86, for a total transaction of $549,957.10. Following the completion of the transaction, the general counsel now directly owns 13,677 shares of the company’s stock, valued at approximately $1,776,095.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Mary Lou Burke sold 1,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $120.00, for a total transaction of $120,000.00. Following the completion of the sale, the chief operating officer now directly owns 35,925 shares in the company, valued at $4,311,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,835 shares of company stock valued at $3,110,788. Insiders own 1.22% of the company’s stock.

Bright Horizons Family Solutions Stock Down 1.3 %

BFAM opened at $136.20 on Friday. The stock has a market capitalization of $7.90 billion, a P/E ratio of 95.92 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 Inc. has a one year low of $71.65 and a one year high of $141.90. The business’s 50-day simple moving average is $135.84 and its 200-day simple moving average is $118.92.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BFAM shares. Morgan Stanley upped their target price on shares of Bright Horizons Family Solutions from $92.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Barclays boosted 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 note on Friday, August 30th. BMO Capital Markets raised their price target on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price objective on 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $129.25.

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.