Brightcove (NASDAQ:BCOV) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Brightcove (NASDAQ:BCOVFree Report) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, Lake Street Capital raised Brightcove from a “hold” rating to a “buy” rating and raised their price objective for the company from $2.75 to $3.50 in a research report on Tuesday, November 5th.

Check Out Our Latest Stock Analysis on BCOV

Brightcove Trading Up 6.0 %

Shares of BCOV stock opened at $3.19 on Wednesday. Brightcove has a twelve month low of $1.55 and a twelve month high of $3.19. The stock has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $2.25. The stock has a market capitalization of $144.00 million, a price-to-earnings ratio of -15.19 and a beta of 0.74.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average price of $2.07 per share, for a total transaction 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 trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 48,988 shares of company stock worth $100,789 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Brightcove

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC purchased a new position in Brightcove during the 2nd quarter worth approximately $3,114,000. First Eagle Investment Management LLC raised its holdings in shares of 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 purchasing an additional 269,302 shares during the last quarter. P.A.W. Capital Corp acquired a new position in Brightcove during the third quarter valued at $540,000. Jacobs Levy Equity Management Inc. boosted its holdings in Brightcove by 1,124.9% in 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 position in Brightcove by 17.3% during the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after purchasing an additional 139,049 shares during the period. Institutional investors and hedge funds own 80.12% of the company’s stock.

About Brightcove

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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.

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