Brightcove (NASDAQ:BCOV) Rating Lowered to Hold at Lake Street Capital

Lake Street Capital cut shares of Brightcove (NASDAQ:BCOV) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on BCOV. Rosenblatt Securities restated a “neutral” rating and set a $4.45 target price (down previously from $5.00) on shares of Brightcove in a report on Monday. StockNews.com lowered shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Brightcove Trading Down 0.5 %

Brightcove stock opened at $4.29 on Monday. The company has a market cap of $193.65 million, a PE ratio of -20.43 and a beta of 0.74. Brightcove has a 1 year low of $1.55 and a 1 year high of $4.33. The company’s 50-day moving average is $2.52 and its two-hundred day moving average is $2.32.

Insider Transactions at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the purchase, the insider now directly owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. This represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 48,988 shares of company stock worth $100,789 in the last three months. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Brightcove

Several hedge funds have recently bought and sold shares of BCOV. Price T Rowe Associates Inc. MD bought a new position in shares of Brightcove during the first quarter worth approximately $29,000. Aaron Wealth Advisors LLC bought a new position in Brightcove during the 2nd quarter worth $34,000. XTX Topco Ltd acquired a new position in Brightcove in the 2nd quarter valued at $36,000. State Board of Administration of Florida Retirement System lifted its position in shares of Brightcove by 89.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock valued at $42,000 after acquiring an additional 10,120 shares during the period. Finally, Wedbush Securities Inc. bought a new stake in shares of Brightcove during the 2nd quarter valued at $47,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

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.