StockNews.com Begins Coverage on Brightcove (NASDAQ:BCOV)

Equities researchers at StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a report issued on Tuesday. The firm set a “buy” rating on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. Lake Street Capital downgraded shares of Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $4.45 price target (down previously from $5.00) on shares of Brightcove in a research report on Monday, November 25th.

Brightcove Stock Performance

Shares of BCOV opened at $4.35 on Tuesday. The company has a 50 day moving average price of $2.96 and a 200-day moving average price of $2.47. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.39. The stock has a market capitalization of $196.34 million, a PE ratio of -20.71 and a beta of 1.02.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price 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 in the company, valued at $13,768,677.45. This represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have purchased a total of 32,158 shares of company stock valued at $66,455 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Brightcove

Several hedge funds have recently modified their holdings of BCOV. Nantahala Capital Management LLC purchased a new position in Brightcove during the second quarter worth approximately $3,114,000. First Eagle Investment Management LLC grew its stake in Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock valued at $1,423,000 after acquiring an additional 269,302 shares during the period. P.A.W. Capital Corp purchased a new stake in Brightcove in the 3rd quarter worth $540,000. Jacobs Levy Equity Management Inc. raised its position in Brightcove by 1,124.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after acquiring an additional 225,482 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings 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. 80.12% of the stock is owned by hedge funds and other institutional investors.

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.