Brightcove (NASDAQ:BCOV) Stock Rating Lowered by StockNews.com

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

A number of other research firms also recently commented on BCOV. Rosenblatt Securities restated a “neutral” rating and issued a $4.45 price objective (down from $5.00) on shares of Brightcove in a report on Monday, November 25th. Lake Street Capital lowered Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th.

Brightcove Price Performance

Brightcove stock opened at $4.33 on Monday. The stock’s 50-day moving average is $2.71 and its 200-day moving average is $2.38. The company has a market cap of $195.46 million, a price-to-earnings ratio of -20.38 and a beta of 1.02. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.34.

Insider Activity

In related news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the 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 purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 48,988 shares of company stock worth $100,789. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brightcove

Hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC grew its stake in Brightcove by 81.4% during 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 purchasing an additional 269,302 shares in the last quarter. Edenbrook Capital LLC grew its stake in Brightcove by 1.8% during the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after purchasing an additional 120,121 shares in the last quarter. P.A.W. Capital Corp acquired a new stake in Brightcove during the 3rd quarter valued at approximately $540,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Brightcove during the 2nd quarter worth approximately $142,000. Finally, Nantahala Capital Management LLC bought a new position in Brightcove during the 2nd quarter worth approximately $3,114,000. 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.