Edenbrook Capital, Llc Buys 10,000 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc bought 10,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were acquired at an average price of $1.68 per share, with a total value of $16,800.00. Following the completion of the purchase, the insider now directly owns 6,465,802 shares of the company’s stock, valued at $10,862,547.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Friday, April 12th, Edenbrook Capital, Llc purchased 6,351 shares of Brightcove stock. The stock was acquired at an average price of $1.70 per share, for a total transaction of $10,796.70.
• On Wednesday, April 10th, Edenbrook Capital, Llc acquired 5,000 shares of Brightcove stock. The shares were acquired at an average price of $1.80 per share, with a total value of $9,000.00.
• On Tuesday, April 2nd, Edenbrook Capital, Llc bought 5,190 shares of Brightcove stock. The stock was acquired at an average price of $1.85 per share, for a total transaction of $9,601.50.
• On Wednesday, March 20th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The stock was bought at an average cost of $1.88 per share, with a total value of $56,400.00.

Brightcove Trading Up 1.2 %

NASDAQ:BCOV opened at $1.72 on Friday. The stock’s 50-day moving average is $1.98 and its 200-day moving average is $2.38. Brightcove Inc. has a 1-year low of $1.63 and a 1-year high of $4.56. The stock has a market cap of $76.39 million, a P/E ratio of -3.19 and a beta of 0.68.

Brightcove (NASDAQ:BCOV) last posted its earnings results on Thursday, February 22nd. The software maker reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Brightcove had a negative net margin of 11.38% and a negative return on equity of 17.02%. The business had revenue of $50.16 million for the quarter. As a group, equities analysts forecast that Brightcove Inc. will post -0.33 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BCOV shares. StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Rosenblatt Securities decreased their target price on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Lake Street Capital reiterated a “hold” rating and issued a $3.00 price target on shares of Brightcove in a research note on Friday, February 23rd.

Hedge Funds Weigh In On Brightcove

A number of hedge funds have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. raised its position in Brightcove by 0.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 310,375 shares of the software maker’s stock worth $2,421,000 after purchasing an additional 1,420 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Brightcove by 7.3% in the fourth quarter. Alliancebernstein L.P. now owns 26,400 shares of the software maker’s stock valued at $138,000 after buying an additional 1,800 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Brightcove by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,329 shares of the software maker’s stock worth $567,000 after acquiring an additional 2,328 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Brightcove by 17.6% in the first quarter. MetLife Investment Management LLC now owns 16,811 shares of the software maker’s stock worth $131,000 after acquiring an additional 2,515 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Brightcove by 18.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,852 shares of the software maker’s stock valued at $84,000 after acquiring an additional 3,315 shares during the last quarter. Institutional investors and hedge funds own 80.12% of the company’s stock.

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.