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 sent to investors on Wednesday.

Separately, Lake Street Capital raised shares of Brightcove from a “hold” rating to a “buy” rating and raised their target price for the stock from $2.75 to $3.50 in a research report on Tuesday, November 5th.

Brightcove Price Performance

BCOV opened at $2.99 on Wednesday. Brightcove has a one year low of $1.55 and a one year high of $3.08. The firm has a market capitalization of $134.96 million, a price-to-earnings ratio of -14.24 and a beta of 0.74. The business has a 50 day simple moving average of $2.35 and a two-hundred day simple moving average of $2.25.

Insider Buying and Selling at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was purchased 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 owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders bought 48,988 shares of company stock valued at $100,789. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCOV. Edenbrook Capital LLC grew its stake in shares of Brightcove by 1.8% in the third quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock worth $14,367,000 after acquiring an additional 120,121 shares during the last quarter. Lynrock Lake LP boosted its stake in Brightcove by 2.3% in the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after purchasing an additional 100,000 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in Brightcove during the 2nd quarter valued at about $3,114,000. Acadian Asset Management LLC increased its stake in Brightcove by 17.3% during the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock valued at $2,227,000 after purchasing an additional 139,049 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Brightcove by 81.4% in the second quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after buying an additional 269,302 shares during the last quarter. Institutional investors own 80.12% of the company’s stock.

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.