Verition Fund Management LLC Invests $797,000 in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Verition Fund Management LLC bought a new position in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,685 shares of the company’s stock, valued at approximately $797,000.

A number of other institutional investors have also added to or reduced their stakes in the business. OLD National Bancorp IN boosted its position in shares of Bright Horizons Family Solutions by 2.7% during the 3rd quarter. OLD National Bancorp IN now owns 3,159 shares of the company’s stock valued at $443,000 after acquiring an additional 82 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Bright Horizons Family Solutions by 6.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 119 shares during the last quarter. Avior Wealth Management LLC grew its stake in Bright Horizons Family Solutions by 2.9% in the 3rd quarter. Avior Wealth Management LLC now owns 4,674 shares of the company’s stock worth $655,000 after buying an additional 133 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Bright Horizons Family Solutions by 37.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 535 shares of the company’s stock worth $75,000 after buying an additional 145 shares during the last quarter. Finally, Quarry LP raised its position in shares of Bright Horizons Family Solutions by 68.3% during the 2nd quarter. Quarry LP now owns 436 shares of the company’s stock valued at $48,000 after buying an additional 177 shares in the last quarter.

Bright Horizons Family Solutions Stock Performance

NYSE:BFAM opened at $113.06 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 0.61. Bright Horizons Family Solutions Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $141.90. The firm has a market cap of $6.58 billion, a PE ratio of 56.81 and a beta of 1.44. The business has a 50 day moving average price of $123.41 and a 200-day moving average price of $122.90.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.05. Bright Horizons Family Solutions had a net margin of 4.44% and a return on equity of 13.23%. The business had revenue of $719.00 million during the quarter, compared to analysts’ expectations of $713.16 million. During the same quarter in the prior year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts predict that Bright Horizons Family Solutions Inc. will post 3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BFAM. BMO Capital Markets upgraded shares of Bright Horizons Family Solutions from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $137.00 to $125.00 in a research report on Monday, November 18th. The Goldman Sachs Group increased their price objective on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Baird R W upgraded Bright Horizons Family Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley boosted their price objective on shares of Bright Horizons Family Solutions from $100.00 to $108.00 and gave the stock an “underweight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bright Horizons Family Solutions presently has an average rating of “Moderate Buy” and an average price target of $141.50.

Insider Buying and Selling

In related news, Director Mary Ann Tocio sold 5,000 shares of Bright Horizons Family Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $114.71, for a total value of $573,550.00. Following the sale, the director now owns 25,257 shares in the company, valued at $2,897,230.47. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $136.94, for a total transaction of $109,552.00. Following the completion of the transaction, the chief operating officer now owns 31,025 shares of the company’s stock, valued at $4,248,563.50. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.22% of the stock is owned by insiders.

Bright Horizons Family Solutions Profile

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.