Brightcove (NASDAQ:BCOV) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of Brightcove (NASDAQ:BCOV) from a strong-buy rating to a buy rating in a research report report published on Monday.

A number of other equities analysts have also issued reports on BCOV. Lake Street Capital lowered shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Rosenblatt Securities reiterated a “neutral” rating and issued a $4.45 target price (down from $5.00) on shares of Brightcove in a report on Monday, November 25th.

Brightcove Price Performance

NASDAQ:BCOV opened at $4.27 on Monday. The firm has a market cap of $192.75 million, a PE ratio of -20.33 and a beta of 0.74. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.33. The company’s 50-day moving average price is $2.61 and its two-hundred day moving average price is $2.35.

Insider Buying and Selling

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the acquisition, the insider now directly owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. The trade was a 0.30 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 48,988 shares of company stock worth $100,789 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Brightcove

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCOV. Geode Capital Management LLC grew its position in shares of Brightcove by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock valued at $1,055,000 after acquiring an additional 37,584 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Brightcove by 1,124.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after purchasing an additional 225,482 shares in the last quarter. Edenbrook Capital LLC raised its stake in Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock worth $14,367,000 after purchasing an additional 120,121 shares in the last quarter. P.A.W. Capital Corp acquired a new stake in Brightcove in the 3rd quarter worth about $540,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Brightcove in the 2nd quarter worth about $54,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

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.