Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Edenbrook Capital, Llc Buys 10,000 Shares of Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 10,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was bought at an average cost of $1.68 per share, with a total value of $16,800.00. Following the acquisition, the insider now owns 6,465,802 shares of the company’s stock, valued at $10,862,547.36. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, April 12th, Edenbrook Capital, Llc acquired 6,351 shares of Brightcove stock. The stock was purchased at an average price of $1.70 per share, for a total transaction of $10,796.70.
• On Wednesday, April 10th, Edenbrook Capital, Llc bought 5,000 shares of Brightcove stock. The shares were purchased at an average price of $1.80 per share, with a total value of $9,000.00.
• On Tuesday, April 2nd, Edenbrook Capital, Llc purchased 5,190 shares of Brightcove stock. The stock was purchased at an average price of $1.85 per share, for a total transaction of $9,601.50.
• On Wednesday, March 20th, Edenbrook Capital, Llc acquired 30,000 shares of Brightcove stock. The shares were purchased at an average cost of $1.88 per share, with a total value of $56,400.00.

Brightcove Trading Down 2.9 %

NASDAQ:BCOV opened at $1.70 on Thursday. Brightcove Inc. has a 1-year low of $1.63 and a 1-year high of $4.56. The firm has a market capitalization of $75.50 million, a price-to-earnings ratio of -3.15 and a beta of 0.68. The business’s 50-day moving average price is $1.99 and its two-hundred day moving average price is $2.38.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Brightcove had a negative return on equity of 17.02% and a negative net margin of 11.38%. The company had revenue of $50.16 million during the quarter. Sell-side analysts predict that Brightcove Inc. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BCOV shares. StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Rosenblatt Securities cut their price objective on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, Lake Street Capital reaffirmed a “hold” rating and set a $3.00 target price on shares of Brightcove in a report on Friday, February 23rd.

Institutional Investors Weigh In On Brightcove

Several hedge funds have recently bought and sold shares of BCOV. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Brightcove by 0.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 310,375 shares of the software maker’s stock valued at $2,421,000 after buying an additional 1,420 shares during the period. Alliancebernstein L.P. grew its stake in Brightcove by 7.3% in the fourth quarter. Alliancebernstein L.P. now owns 26,400 shares of the software maker’s stock valued at $138,000 after acquiring an additional 1,800 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Brightcove by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,329 shares of the software maker’s stock valued at $567,000 after acquiring an additional 2,328 shares during the period. MetLife Investment Management LLC boosted its position in shares of Brightcove by 17.6% during the first quarter. MetLife Investment Management LLC now owns 16,811 shares of the software maker’s stock worth $131,000 after buying an additional 2,515 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Brightcove by 18.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,852 shares of the software maker’s stock valued at $84,000 after purchasing an additional 3,315 shares during the last quarter. 80.12% of the stock is currently 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.