Edenbrook Capital, Llc Purchases 20,000 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc bought 20,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the transaction, the insider now owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Wednesday, September 18th, Edenbrook Capital, Llc bought 2,096 shares of Brightcove stock. The shares were acquired at an average price of $2.00 per share, with a total value of $4,192.00.
• On Tuesday, September 10th, Edenbrook Capital, Llc bought 5,230 shares of Brightcove stock. The shares were acquired at an average price of $2.04 per share, with a total value of $10,669.20.
• On Friday, September 6th, Edenbrook Capital, Llc bought 11,600 shares of Brightcove stock. The shares were acquired at an average price of $2.04 per share, with a total value of $23,664.00.
• On Monday, August 12th, Edenbrook Capital, Llc acquired 20,000 shares of Brightcove stock. The stock was purchased at an average cost of $1.98 per share, with a total value of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc acquired 30,000 shares of Brightcove stock. The stock was purchased at an average cost of $2.01 per share, with a total value of $60,300.00.

Brightcove Price Performance

BCOV stock traded up $0.01 on Monday, hitting $2.16. 219,303 shares of the company were exchanged, compared to its average volume of 240,991. Brightcove Inc. has a twelve month low of $1.55 and a twelve month high of $3.37. The business’s fifty day moving average is $2.17 and its two-hundred day moving average is $2.09. The stock has a market capitalization of $96.30 million, a price-to-earnings ratio of -9.82 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS 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 firm had revenue of $49.25 million during the quarter. During the same period last year, the company posted ($0.07) EPS. Equities research analysts expect that Brightcove Inc. will post -0.32 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Brightcove

Several institutional investors have recently bought and sold shares of BCOV. Pitcairn Co. acquired a new stake in Brightcove during the 1st quarter valued at $27,000. Aaron Wealth Advisors LLC acquired a new stake in Brightcove during the 2nd quarter valued at $34,000. Price T Rowe Associates Inc. MD acquired a new stake in Brightcove during the 1st quarter valued at $29,000. XTX Topco Ltd acquired a new position in Brightcove during the 2nd quarter worth $36,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Brightcove during the 1st quarter worth $33,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

About Brightcove

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.