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

StockNews.com upgraded shares of Brightcove (NASDAQ:BCOV) from a buy rating to a strong-buy rating in a research report report published on Tuesday.

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

Brightcove Stock Up 1.3 %

BCOV stock opened at $3.04 on Tuesday. Brightcove has a twelve month low of $1.55 and a twelve month high of $3.06. The company has a market cap of $137.23 million, a PE ratio of -14.48 and a beta of 0.74. The business’s 50-day simple moving average is $2.29 and its 200 day simple moving average is $2.22.

Insider Buying and Selling at Brightcove

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, with a total value of $41,400.00. Following the completion of the acquisition, the insider now owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have purchased 48,988 shares of company stock valued at $100,789. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brightcove

A number of institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its holdings in Brightcove by 11.0% during the second quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after purchasing an additional 6,095 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of Brightcove by 12.4% in the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock valued at $165,000 after acquiring an additional 9,353 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Brightcove by 89.3% in the first 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 acquiring an additional 10,120 shares during the last quarter. Pitcairn Co. bought a new position in shares of Brightcove in the first quarter valued at approximately $27,000. Finally, Aaron Wealth Advisors LLC bought a new position in shares of Brightcove in the second quarter valued at approximately $34,000. 80.12% of the stock is owned by institutional investors and hedge funds.

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.