Wedbush Securities Inc. Invests $47,000 in Brightcove Inc. (NASDAQ:BCOV)

Wedbush Securities Inc. bought a new position in Brightcove Inc. (NASDAQ:BCOV) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,000 shares of the software maker’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pitcairn Co. purchased a new position in shares of Brightcove in the 1st quarter worth approximately $27,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Brightcove in the 1st quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Brightcove in the 1st quarter worth approximately $33,000. Aaron Wealth Advisors LLC purchased a new position in shares of Brightcove in the 2nd quarter worth approximately $34,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Brightcove by 89.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after buying an additional 10,120 shares during the last quarter. Hedge funds and other institutional investors own 80.12% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Insiders Place Their Bets

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $1.98 per share, with a total value of $39,600.00. Following the completion of the acquisition, the insider now owns 6,581,414 shares in the company, valued at approximately $13,031,199.72. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased a total of 66,830 shares of company stock worth $134,233 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Brightcove Trading Up 2.0 %

Brightcove stock opened at $2.06 on Monday. Brightcove Inc. has a 12 month low of $1.55 and a 12 month high of $3.81. The business’s 50 day simple moving average is $2.26 and its 200 day simple moving average is $2.09. The company has a market cap of $92.54 million, a price-to-earnings ratio of -9.36 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data 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 return on equity of 8.86% and a negative net margin of 4.28%. The business had revenue of $49.25 million for the quarter. During the same quarter in the previous year, the company posted ($0.07) EPS. As a group, equities research analysts forecast that Brightcove Inc. will post -0.32 earnings per share for the current fiscal year.

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.