Brightcove (NASDAQ:BCOV) Given Neutral Rating at Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Brightcove (NASDAQ:BCOV) in a research note published on Monday morning,Benzinga reports. The brokerage currently has a $4.45 target price on the software maker’s stock, down from their previous target price of $5.00.

A number of other brokerages have also weighed in on BCOV. Lake Street Capital upgraded shares of Brightcove from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.75 to $3.50 in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Brightcove Trading Up 35.4 %

NASDAQ BCOV opened at $4.32 on Monday. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.33. The stock’s 50 day moving average is $2.43 and its 200 day moving average is $2.29. The stock has a market cap of $194.99 million, a PE ratio of -20.57 and a beta of 0.74.

Insider Activity

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of Brightcove stock in a transaction dated Thursday, September 26th. The shares were purchased at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the acquisition, the insider now directly owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. This represents a 0.30 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders bought 48,988 shares of company stock worth $100,789. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC purchased a new stake in Brightcove during the second quarter valued at approximately $3,114,000. First Eagle Investment Management LLC raised its holdings 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 buying an additional 269,302 shares during the period. P.A.W. Capital Corp bought a new stake in Brightcove in the third quarter worth $540,000. Jacobs Levy Equity Management Inc. boosted its stake in Brightcove by 1,124.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after buying an additional 225,482 shares during the period. Finally, Acadian Asset Management LLC increased its position in Brightcove by 17.3% during the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock valued at $2,227,000 after acquiring an additional 139,049 shares during the last quarter. Hedge funds and other institutional investors 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.