Connor Clark & Lunn Investment Management Ltd. Sells 3,593 Shares of Brightcove Inc. (NASDAQ:BCOV)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Brightcove Inc. (NASDAQ:BCOV) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 139,014 shares of the software maker’s stock after selling 3,593 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.31% of Brightcove worth $605,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BCOV. R Squared Ltd bought a new position in Brightcove in the fourth quarter valued at approximately $90,000. JPMorgan Chase & Co. grew its stake in Brightcove by 99.3% in the third quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock valued at $66,000 after purchasing an additional 15,291 shares in the last quarter. Bailard Inc. bought a new position in Brightcove in the fourth quarter valued at approximately $156,000. ABC Arbitrage SA bought a new position in Brightcove in the fourth quarter valued at approximately $1,038,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in 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 valued at $530,000 after purchasing an additional 225,482 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BCOV. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Rosenblatt Securities restated a “neutral” rating and issued a $4.45 price target (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Finally, StockNews.com initiated coverage on Brightcove in a research report on Sunday, March 16th. They issued a “buy” rating for the company.

Brightcove Price Performance

BCOV opened at $4.45 on Friday. Brightcove Inc. has a 12-month low of $1.55 and a 12-month high of $4.46. The stock has a market cap of $202.12 million, a price-to-earnings ratio of -21.19 and a beta of 1.01. The business has a 50 day moving average of $4.44 and a 200-day moving average of $3.57.

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.