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

by · The Markets Daily

StockNews.com downgraded shares of Brightcove (NASDAQ:BCOV – Free Report) from a strong-buy rating to a buy rating in a report issued on Wednesday.

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

Check Out Our Latest Stock Report on Brightcove

Brightcove Stock Up 1.4 %

Shares of NASDAQ BCOV opened at $2.99 on Wednesday. Brightcove has a 52 week low of $1.55 and a 52 week high of $3.08. The company has a market cap of $134.96 million, a P/E ratio of -14.24 and a beta of 0.74. The business has a 50-day simple moving average of $2.35 and a two-hundred day simple moving average of $2.25.

Insider Buying and Selling at Brightcove

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the transaction, the insider now owns 6,651,535 shares in the company, valued at $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 the SEC website. Insiders have acquired a total of 48,988 shares of company stock valued at $100,789 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Brightcove

Large investors have recently modified their holdings of the company. First Eagle Investment Management LLC grew its holdings in shares of 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 purchasing an additional 269,302 shares during the last quarter. P.A.W. Capital Corp bought a new position in shares of Brightcove during the third quarter valued at about $540,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Brightcove in the second quarter worth about $142,000. Nantahala Capital Management LLC bought a new stake in shares of Brightcove in the 2nd quarter valued at about $3,114,000. Finally, Aaron Wealth Advisors LLC bought a new position in Brightcove during the 2nd quarter worth approximately $34,000. 80.12% of the stock is owned by hedge funds and other institutional investors.

Brightcove Company Profile

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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.

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