Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Edenbrook Capital, Llc Buys 6,562 Shares

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 6,562 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $2.07 per share, for a total transaction of $13,583.34. Following the purchase, the insider now owns 6,658,097 shares in the company, valued at approximately $13,782,260.79. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, October 21st, Edenbrook Capital, Llc bought 3,500 shares of Brightcove stock. The stock was bought at an average cost of $2.08 per share, for a total transaction of $7,280.00.
• On Thursday, September 26th, Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock. The stock was bought at an average cost of $2.07 per share, for a total transaction of $41,400.00.
• On Wednesday, September 18th, Edenbrook Capital, Llc acquired 2,096 shares of Brightcove stock. The shares were bought at an average cost of $2.00 per share, with a total value of $4,192.00.
• On Tuesday, September 10th, Edenbrook Capital, Llc purchased 5,230 shares of Brightcove stock. The shares were purchased at an average price of $2.04 per share, for a total transaction of $10,669.20.
• On Friday, September 6th, Edenbrook Capital, Llc acquired 11,600 shares of Brightcove stock. The stock was purchased at an average price of $2.04 per share, for a total transaction of $23,664.00.
• On Monday, August 12th, Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock. The shares were acquired at an average price of $1.98 per share, for a total transaction of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The shares were acquired at an average cost of $2.01 per share, for a total transaction of $60,300.00.

Brightcove Stock Up 6.7 %

Shares of NASDAQ:BCOV opened at $2.24 on Friday. Brightcove Inc. has a fifty-two week low of $1.55 and a fifty-two week high of $3.10. The stock has a market cap of $99.86 million, a price-to-earnings ratio of -10.18 and a beta of 0.74. The firm’s 50 day moving average price is $2.17 and its 200 day moving average price is $2.13.

Brightcove (NASDAQ:BCOV) last posted its earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. The firm had revenue of $49.25 million for the quarter. During the same period last year, the company earned ($0.07) EPS. On average, equities analysts anticipate that Brightcove Inc. will post -0.32 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Hedge Funds Weigh In On Brightcove

Hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd boosted its holdings in shares of Brightcove by 87.9% in the 4th quarter. Quadrature Capital Ltd now owns 75,610 shares of the software maker’s stock valued at $196,000 after buying an additional 35,360 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Brightcove during the first quarter worth about $33,000. BNP Paribas Financial Markets increased its position in shares of Brightcove by 26.6% during the first quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker’s stock worth $208,000 after purchasing an additional 22,466 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Brightcove by 151.0% in the 1st quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock valued at $437,000 after purchasing an additional 135,462 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Brightcove by 89.3% in the 1st 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 purchasing an additional 10,120 shares during the period. 80.12% of the stock is currently 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.