Point72 Asia Singapore Pte. Ltd. Makes New Investment in Brightcove Inc. (NASDAQ:BCOV)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Brightcove Inc. (NASDAQ:BCOV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 59,755 shares of the software maker’s stock, valued at approximately $142,000.

A number of other hedge funds also recently bought and sold shares of the company. Quadrature Capital Ltd lifted its stake in shares of Brightcove by 87.9% in the 4th quarter. Quadrature Capital Ltd now owns 75,610 shares of the software maker’s stock valued at $196,000 after acquiring an additional 35,360 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Brightcove in the first quarter valued at approximately $33,000. BNP Paribas Financial Markets boosted its stake in shares of Brightcove by 26.6% during the first quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker’s stock valued at $208,000 after purchasing an additional 22,466 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Brightcove by 151.0% during the first quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock valued at $437,000 after purchasing an additional 135,462 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Brightcove by 89.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after purchasing an additional 10,120 shares during the last quarter. Institutional investors own 80.12% of the company’s stock.

Analyst Upgrades and Downgrades

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

Brightcove Price Performance

Shares of NASDAQ:BCOV opened at $2.39 on Friday. The stock’s 50-day moving average is $2.16 and its 200 day moving average is $2.09. The company has a market cap of $106.55 million, a PE ratio of -10.86 and a beta of 0.74. Brightcove Inc. has a 1 year low of $1.55 and a 1 year high of $3.18.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, topping 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 firm had revenue of $49.25 million for the quarter. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Analysts expect that Brightcove Inc. will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $1.98 per share, with a total value of $39,600.00. Following the purchase, the insider now owns 6,581,414 shares of the company’s stock, valued at approximately $13,031,199.72. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders purchased 88,926 shares of company stock worth $179,825. 3.70% of the stock is currently owned by corporate insiders.

Brightcove 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.