Acadian Asset Management LLC Decreases Holdings in Brightcove Inc. (NASDAQ:BCOV)

Acadian Asset Management LLC cut its stake in shares of Brightcove Inc. (NASDAQ:BCOV) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 552,972 shares of the software maker’s stock after selling 72,840 shares during the period. Acadian Asset Management LLC owned about 1.39% of Brightcove worth $5,663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quantitative Systematic Strategies LLC raised its stake in Brightcove by 7.5% during the 3rd quarter. Quantitative Systematic Strategies LLC now owns 12,812 shares of the software maker’s stock valued at $131,000 after buying an additional 890 shares during the last quarter. Bank of Montreal Can grew its position in shares of Brightcove by 59.0% during the 2nd quarter. Bank of Montreal Can now owns 3,582 shares of the software maker’s stock valued at $27,000 after acquiring an additional 1,329 shares during the period. PDT Partners LLC grew its position in shares of Brightcove by 9.7% during the 2nd quarter. PDT Partners LLC now owns 25,900 shares of the software maker’s stock valued at $204,000 after acquiring an additional 2,300 shares during the period. Aperio Group LLC boosted its holdings in Brightcove by 22.3% in the 3rd quarter. Aperio Group LLC now owns 12,924 shares of the software maker’s stock worth $132,000 after buying an additional 2,360 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Brightcove by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 88,912 shares of the software maker’s stock worth $910,000 after buying an additional 2,900 shares during the period. Institutional investors and hedge funds own 84.39% of the company’s stock.

BCOV opened at $13.40 on Friday. The firm has a 50-day simple moving average of $12.18 and a two-hundred day simple moving average of $9.94. Brightcove Inc. has a 52 week low of $5.44 and a 52 week high of $14.11. The company has a market capitalization of $533.40 million, a PE ratio of -36.22, a price-to-earnings-growth ratio of 12.36 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.07.

Brightcove (NASDAQ:BCOV) last announced its earnings results on Wednesday, October 21st. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.13. The firm had revenue of $49.08 million for the quarter, compared to analysts’ expectations of $46.31 million. Brightcove had a negative net margin of 7.61% and a negative return on equity of 0.21%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. As a group, sell-side analysts expect that Brightcove Inc. will post 0.07 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Colliers Securities upped their target price on shares of Brightcove from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Northland Securities upped their target price on shares of Brightcove from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Lake Street Capital increased their price objective on shares of Brightcove from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Zacks Investment Research raised shares of Brightcove from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Monday, October 26th. Finally, BidaskClub downgraded shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Monday, November 2nd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Brightcove currently has an average rating of “Buy” and an average price target of $17.70.

Brightcove Profile

Brightcove Inc provides cloud-based services for video. Its flagship product include Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Video Marketing Suite, a suite of video technologies to drive awareness, engagement, and conversion; Enterprise Video Suite, an enterprise-class platform for internal communications, employee training, live streaming, marketing, and e-commerce videos; and OTT Flow, a service for media companies and content owners to deploy direct-to-consumer, live and on-demand video services across platforms.

Further Reading: How Do Front-End Loads Impact an Investment?

Institutional Ownership by Quarter for Brightcove (NASDAQ:BCOV)

Receive News & Ratings for Brightcove Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightcove and related companies with MarketBeat.com's FREE daily email newsletter.