GSA Capital Partners LLP Lowers Position in Brightcove Inc. (NASDAQ:BCOV)

GSA Capital Partners LLP cut its stake in shares of Brightcove Inc. (NASDAQ:BCOV) by 16.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 230,607 shares of the software maker’s stock after selling 46,162 shares during the period. GSA Capital Partners LLP’s holdings in Brightcove were worth $498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BCOV. Nantahala Capital Management LLC purchased a new position in Brightcove during the second quarter valued at $3,114,000. First Eagle Investment Management LLC lifted 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 valued at $1,423,000 after purchasing an additional 269,302 shares in the last quarter. P.A.W. Capital Corp purchased a new position in Brightcove during the third quarter valued at $540,000. Acadian Asset Management LLC lifted its position in Brightcove by 17.3% during 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. Finally, Lynrock Lake LP lifted its position in Brightcove by 2.3% during the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock valued at $10,446,000 after purchasing an additional 100,000 shares in the last quarter. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Brightcove Stock Down 3.3 %

NASDAQ BCOV opened at $2.95 on Wednesday. The firm has a market cap of $133.16 million, a price-to-earnings ratio of -14.05 and a beta of 0.74. The business has a 50-day moving average price of $2.33 and a 200-day moving average price of $2.24. Brightcove Inc. has a twelve month low of $1.55 and a twelve month high of $3.08.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BCOV. StockNews.com lowered Brightcove from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Lake Street Capital raised Brightcove from a “hold” rating to a “buy” rating and upped their price objective for the stock from $2.75 to $3.50 in a research note on Tuesday, November 5th.

Insider Transactions at Brightcove

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the transaction, the insider now 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders acquired a total of 48,988 shares of company stock valued at $100,789 over the last 90 days. Company insiders own 4.20% 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.