Connor Clark & Lunn Investment Management Ltd. Sells 5,041 Shares of Brightcove Inc. (NASDAQ:BCOV)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Brightcove Inc. (NASDAQ:BCOV) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,607 shares of the software maker’s stock after selling 5,041 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brightcove were worth $308,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Nantahala Capital Management LLC acquired a new stake in shares of Brightcove in the 2nd quarter valued at approximately $3,114,000. First Eagle Investment Management LLC raised its position in Brightcove by 81.4% during the second quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after acquiring an additional 269,302 shares in the last quarter. P.A.W. Capital Corp acquired a new stake in Brightcove in the third quarter valued at $540,000. Acadian Asset Management LLC lifted its stake in Brightcove by 17.3% in the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock valued at $2,227,000 after acquiring an additional 139,049 shares during the last quarter. Finally, Lynrock Lake LP grew its position in shares of Brightcove by 2.3% in the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock valued at $10,446,000 after acquiring an additional 100,000 shares during the period. Institutional investors and hedge funds own 80.12% of the company’s stock.

Brightcove Price Performance

NASDAQ:BCOV opened at $4.27 on Friday. The company has a market cap of $192.73 million, a P/E ratio of -20.33 and a beta of 0.74. The firm’s fifty day moving average price is $2.61 and its two-hundred day moving average price is $2.35. Brightcove Inc. has a one year low of $1.55 and a one year high of $4.33.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were bought 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 owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders purchased 48,988 shares of company stock valued at $100,789. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BCOV shares. StockNews.com cut shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $4.45 price objective (down from $5.00) on shares of Brightcove in a research report on Monday, November 25th.

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.