Cubist Systematic Strategies LLC Buys New Shares in Brightcove Inc. (NASDAQ:BCOV)

Cubist Systematic Strategies LLC bought a new stake in shares of Brightcove Inc. (NASDAQ:BCOV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,597 shares of the software maker’s stock, valued at approximately $54,000. Cubist Systematic Strategies LLC owned about 0.05% of Brightcove at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pitcairn Co. acquired a new stake in shares of Brightcove during the first quarter valued at approximately $27,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Brightcove during the second quarter valued at approximately $34,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Brightcove during the first quarter valued at approximately $29,000. XTX Topco Ltd acquired a new stake in shares of Brightcove during the second quarter valued at approximately $36,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Brightcove during the first quarter valued at approximately $33,000. 80.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $1.98 per share, for a total transaction of $39,600.00. Following the purchase, the insider now directly owns 6,581,414 shares in the company, valued at $13,031,199.72. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have purchased 88,926 shares of company stock worth $179,825. 3.70% of the stock is currently owned by company insiders.

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 Stock Performance

Brightcove stock opened at $2.22 on Thursday. The firm has a market cap of $98.97 million, a PE ratio of -10.09 and a beta of 0.74. The firm’s 50 day moving average price is $2.16 and its two-hundred day moving average price is $2.12. Brightcove Inc. has a twelve month low of $1.55 and a twelve month high of $3.18.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $49.25 million for the quarter. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. During the same quarter in the prior year, the company posted ($0.07) EPS. Equities analysts anticipate that Brightcove Inc. will post -0.32 EPS for the current fiscal year.

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.