Federated Hermes Inc. Cuts Stock Position in Brightcove Inc. (NASDAQ:BCOV)

Federated Hermes Inc. trimmed its holdings in shares of Brightcove Inc. (NASDAQ:BCOV) by 29.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,170 shares of the software maker’s stock after selling 34,729 shares during the period. Federated Hermes Inc. owned 0.18% of Brightcove worth $195,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Pitcairn Co. acquired a new stake in shares of Brightcove in the first quarter valued at about $27,000. Aaron Wealth Advisors LLC purchased a new position in Brightcove in the 2nd quarter worth approximately $34,000. Price T Rowe Associates Inc. MD acquired a new stake in Brightcove in the first quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Brightcove during the first quarter valued at approximately $33,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Brightcove during the second quarter worth $47,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

Brightcove Trading Down 0.5 %

Shares of NASDAQ:BCOV opened at $2.00 on Wednesday. Brightcove Inc. has a 12-month low of $1.55 and a 12-month high of $3.41. The firm has a market cap of $89.16 million, a PE ratio of -9.09 and a beta of 0.74. The company has a fifty day simple moving average of $2.20 and a 200 day simple moving average of $2.08.

Brightcove (NASDAQ:BCOV) last released its earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. The company had revenue of $49.25 million during the quarter. During the same period in the previous year, the firm posted ($0.07) EPS. As a group, equities research analysts forecast that Brightcove Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at Brightcove

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $1.98 per share, for a total transaction of $39,600.00. Following the transaction, the insider now owns 6,581,414 shares in the company, valued at $13,031,199.72. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 68,926 shares of company stock worth $138,425 over the last quarter. 3.70% of the stock is owned by corporate insiders.

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.