Brightcove (NASDAQ:BCOV) Downgraded by StockNews.com to “Buy”

Brightcove (NASDAQ:BCOV) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

BCOV has been the subject of several other reports. Rosenblatt Securities reissued a “neutral” rating and issued a $4.45 price objective (down from $5.00) on shares of Brightcove in a research report on Monday, November 25th. Lake Street Capital lowered Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th.

Brightcove Price Performance

Shares of NASDAQ:BCOV remained flat at $4.27 on Monday. The stock had a trading volume of 852,585 shares, compared to its average volume of 306,747. The company has a market capitalization of $192.75 million, a PE ratio of -20.33 and a beta of 0.74. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.33. The stock’s 50 day simple moving average is $2.61 and its 200 day simple moving average is $2.35.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of Brightcove stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the purchase, the insider now directly owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. This represents a 0.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 48,988 shares of company stock valued at $100,789 over the last three months. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its stake in shares of Brightcove by 11.0% during the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock worth $145,000 after purchasing an additional 6,095 shares during the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of Brightcove in the 2nd quarter valued at about $34,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Brightcove in the 1st quarter worth approximately $29,000. XTX Topco Ltd bought a new position in shares of Brightcove during the 2nd quarter worth approximately $36,000. Finally, Wedbush Securities Inc. purchased a new stake in Brightcove during the second quarter valued at approximately $47,000. 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.