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

StockNews.com downgraded shares of Brightcove (NASDAQ:BCOV) from a strong-buy rating to a buy rating in a report released on Wednesday.

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

Brightcove Stock Performance

NASDAQ:BCOV opened at $3.19 on Wednesday. The stock has a fifty day moving average price of $2.39 and a two-hundred day moving average price of $2.27. The stock has a market capitalization of $144.00 million, a price-to-earnings ratio of -15.19 and a beta of 0.74. Brightcove has a 1 year low of $1.55 and a 1 year high of $3.19.

Insider Activity

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was acquired 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 directly owns 6,651,535 shares in the company, valued at $13,768,677.45. This represents a 0.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 48,988 shares of company stock worth $100,789 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Brightcove

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Brightcove by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after purchasing an additional 37,584 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Brightcove by 1,124.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after buying an additional 225,482 shares during the last quarter. Edenbrook Capital LLC boosted its stake in Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock worth $14,367,000 after buying an additional 120,121 shares during the last quarter. P.A.W. Capital Corp acquired a new stake in Brightcove in the 3rd quarter worth about $540,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Brightcove in the 2nd quarter worth about $54,000. Hedge funds and other institutional investors 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.