Rosenblatt Securities Reaffirms Neutral Rating for Brightcove (NASDAQ:BCOV)

Rosenblatt Securities reiterated their neutral rating on shares of Brightcove (NASDAQ:BCOV) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have a $4.45 price objective on the software maker’s stock, down from their previous price objective of $5.00.

BCOV has been the subject of a number of other reports. StockNews.com downgraded Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Lake Street Capital upgraded shares of Brightcove from a “hold” rating to a “buy” rating and raised their price target for the stock from $2.75 to $3.50 in a report on Tuesday, November 5th.

Brightcove Price Performance

Shares of Brightcove stock opened at $4.29 on Monday. The stock has a market cap of $193.65 million, a price-to-earnings ratio of -20.43 and a beta of 0.74. Brightcove has a 1 year low of $1.55 and a 1 year high of $4.33. The firm’s 50-day moving average is $2.48 and its two-hundred day moving average is $2.30.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders bought 48,988 shares of company stock worth $100,789. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Brightcove

Large investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its stake in shares of Brightcove by 11.0% in the second quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after buying an additional 6,095 shares in the last quarter. Quadrature Capital Ltd grew its stake in shares of Brightcove by 12.4% during the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock valued at $165,000 after acquiring an additional 9,353 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Brightcove by 89.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock valued at $42,000 after acquiring an additional 10,120 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in Brightcove during the 2nd quarter worth approximately $34,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Brightcove in the first quarter worth $29,000. 80.12% of the stock is owned by institutional investors and hedge funds.

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.