StockNews.com Initiates Coverage on Brightcove (NASDAQ:BCOV)

StockNews.com began coverage on shares of Brightcove (NASDAQ:BCOV) in a research note released on Tuesday. The firm issued a buy rating on the software maker’s stock.

Several other analysts also recently weighed in on the company. Rosenblatt Securities restated a “neutral” rating and set a $4.45 target price (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Lake Street Capital lowered Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th.

Brightcove Stock Up 0.7 %

BCOV opened at $4.36 on Tuesday. The firm has a market capitalization of $196.81 million, a P/E ratio of -20.76 and a beta of 1.01. The firm’s 50 day moving average is $2.92 and its 200-day moving average is $2.46. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.39.

Insider Activity at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the purchase, the insider now owns 6,651,535 shares in the company, valued at $13,768,677.45. This represents a 0.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 32,158 shares of company stock worth $66,455 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC acquired a new stake in Brightcove during the 2nd quarter worth $3,114,000. First Eagle Investment Management LLC grew its holdings in shares of Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock valued at $1,423,000 after acquiring an additional 269,302 shares in the last quarter. P.A.W. Capital Corp acquired a new stake in shares of Brightcove in the third quarter valued at about $540,000. Jacobs Levy Equity Management Inc. boosted its position in Brightcove by 1,124.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock valued at $530,000 after purchasing an additional 225,482 shares during the last quarter. Finally, Acadian Asset Management LLC grew 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 purchasing an additional 139,049 shares in the last quarter. Institutional investors own 80.12% of the company’s stock.

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.