Brightcove (NASDAQ:BCOV) Rating Lowered to Buy at StockNews.com

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

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

Brightcove Price Performance

BCOV opened at $3.00 on Wednesday. The stock has a market capitalization of $135.42 million, a PE ratio of -14.29 and a beta of 0.74. The firm’s fifty day moving average price is $2.36 and its 200 day moving average price is $2.25. Brightcove has a 12-month low of $1.55 and a 12-month high of $3.08.

Insider Activity

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the purchase, the insider now directly 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders acquired 48,988 shares of company stock valued at $100,789. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Brightcove

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp lifted its position in Brightcove by 11.0% in the 2nd 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 during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Brightcove by 12.4% during the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock valued at $165,000 after buying an additional 9,353 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Brightcove by 89.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after buying an additional 10,120 shares during the period. Pitcairn Co. bought a new position in Brightcove in the 1st quarter worth approximately $27,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in Brightcove in the 2nd quarter valued at approximately $34,000. 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.