Brightcove (NASDAQ:BCOV) Lowered to “Buy” Rating by StockNews.com

Brightcove (NASDAQ:BCOV) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, Lake Street Capital upgraded shares of Brightcove from a “hold” rating to a “buy” rating and boosted their price target for the stock from $2.75 to $3.50 in a research report on Tuesday, November 5th.

Brightcove Stock Down 3.3 %

Shares of NASDAQ:BCOV opened at $2.95 on Wednesday. The company has a market cap of $133.16 million, a PE ratio of -14.05 and a beta of 0.74. The company’s 50-day moving average price is $2.33 and its 200 day moving average price is $2.24. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $3.08.

Insiders Place Their Bets

In related news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the transaction, the insider now owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders have purchased 48,988 shares of company stock worth $100,789. 4.20% of the stock is owned by corporate insiders.

Institutional Trading of Brightcove

A number of hedge funds and other institutional investors have recently made changes to their positions in BCOV. Nantahala Capital Management LLC bought a new stake in shares of Brightcove in the 2nd quarter worth approximately $3,114,000. First Eagle Investment Management LLC increased its position in shares of Brightcove by 81.4% in the second quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after acquiring an additional 269,302 shares in the last quarter. P.A.W. Capital Corp purchased a new position in shares of Brightcove in the third quarter worth approximately $540,000. Jacobs Levy Equity Management Inc. increased its position in shares of Brightcove by 1,124.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after acquiring an additional 225,482 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Brightcove by 17.3% in the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after acquiring an additional 139,049 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors.

About Brightcove

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.