First Eagle Investment Management LLC Has $1.42 Million Stock Position in Brightcove Inc. (NASDAQ:BCOV)

First Eagle Investment Management LLC grew its position in shares of Brightcove Inc. (NASDAQ:BCOV) by 81.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 600,334 shares of the software maker’s stock after acquiring an additional 269,302 shares during the quarter. First Eagle Investment Management LLC owned 1.35% of Brightcove worth $1,423,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pitcairn Co. acquired a new position in Brightcove during the 1st quarter worth approximately $27,000. Aaron Wealth Advisors LLC bought a new stake in shares of Brightcove during the 2nd quarter worth approximately $34,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Brightcove during the 1st quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Brightcove during the 1st quarter worth approximately $33,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Brightcove during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 80.12% of the company’s stock.

Insider Activity at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $1.98 per share, for a total transaction of $39,600.00. Following the purchase, the insider now owns 6,581,414 shares in the company, valued at $13,031,199.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have acquired 68,926 shares of company stock worth $138,425. Company insiders own 3.70% of the company’s stock.

Brightcove Trading Down 2.9 %

BCOV opened at $1.99 on Friday. Brightcove Inc. has a 1-year low of $1.55 and a 1-year high of $3.43. The stock’s fifty day simple moving average is $2.22 and its 200 day simple moving average is $2.08. The stock has a market cap of $88.72 million, a PE ratio of -9.05 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the company posted ($0.07) EPS. Equities analysts forecast that Brightcove Inc. will post -0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.