Brightcove (BCOV) Rating Lowered to Sell at BidaskClub

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BidaskClub lowered shares of Brightcove (NASDAQ:BCOV) from a hold rating to a sell rating in a research note published on Friday morning, BidAskClub reports.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Brightcove from a buy rating to a hold rating in a report on Thursday, January 10th. ValuEngine upgraded Brightcove from a hold rating to a buy rating in a report on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Brightcove presently has a consensus rating of Buy and a consensus target price of $12.35.

NASDAQ BCOV opened at $8.26 on Friday. Brightcove has a 12-month low of $6.86 and a 12-month high of $10.75. The company has a market capitalization of $299.45 million, a price-to-earnings ratio of -30.59 and a beta of 1.04.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Wednesday, February 13th. The software maker reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Brightcove had a negative net margin of 8.51% and a negative return on equity of 13.67%. The business had revenue of $40.86 million for the quarter, compared to the consensus estimate of $41.23 million. During the same quarter in the prior year, the business posted $0.04 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts predict that Brightcove will post -0.16 EPS for the current fiscal year.

In other news, CEO Jeff Ray purchased 5,000 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was bought at an average cost of $8.45 per share, for a total transaction of $42,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at $211,250. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in Brightcove by 74.8% during the 3rd quarter. AQR Capital Management LLC now owns 487,825 shares of the software maker’s stock valued at $4,098,000 after purchasing an additional 208,760 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Brightcove by 20.8% during the 4th quarter. King Luther Capital Management Corp now owns 32,000 shares of the software maker’s stock worth $225,000 after acquiring an additional 5,500 shares during the period. Horrell Capital Management Inc. boosted its position in shares of Brightcove by 60.3% during the 4th quarter. Horrell Capital Management Inc. now owns 408,859 shares of the software maker’s stock valued at $2,878,000 after acquiring an additional 153,859 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in shares of Brightcove by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 26,669 shares of the software maker’s stock valued at $224,000 after acquiring an additional 9,480 shares in the last quarter. Finally, Vanguard Group Inc increased its stake in Brightcove by 17.5% in the third quarter. Vanguard Group Inc now owns 1,926,082 shares of the software maker’s stock valued at $16,179,000 after acquiring an additional 286,537 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Brightcove Company Profile

Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.

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