Raymond James & Associates decreased its position in Brightcove Inc (NASDAQ:BCOV) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,300 shares of the software maker’s stock after selling 1,300 shares during the quarter. Raymond James & Associates owned approximately 0.05% of Brightcove worth $129,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Brightcove during the 4th quarter worth approximately $104,000. BlackRock Inc. grew its position in shares of Brightcove by 2.9% during the 4th quarter. BlackRock Inc. now owns 2,345,456 shares of the software maker’s stock worth $16,512,000 after buying an additional 65,963 shares during the period. Rhumbline Advisers grew its position in shares of Brightcove by 49.3% during the 4th quarter. Rhumbline Advisers now owns 46,858 shares of the software maker’s stock worth $330,000 after buying an additional 15,468 shares during the period. Horrell Capital Management Inc. grew 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 worth $2,878,000 after buying an additional 153,859 shares during the period. Finally, Vanguard Group Inc grew its position in shares of Brightcove by 17.5% during the 3rd quarter. Vanguard Group Inc now owns 1,926,082 shares of the software maker’s stock worth $16,179,000 after buying an additional 286,537 shares during the period. 80.03% of the stock is currently owned by institutional investors.
Brightcove stock opened at $8.39 on Friday. Brightcove Inc has a fifty-two week low of $6.88 and a fifty-two week high of $10.75. The company has a market cap of $317.43 million, a P/E ratio of -31.07 and a beta of 1.04.
Brightcove (NASDAQ:BCOV) last released its quarterly earnings data on Wednesday, February 13th. The software maker reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Brightcove had a negative return on equity of 13.67% and a negative net margin of 8.51%. The firm had revenue of $40.86 million for the quarter, compared to the consensus estimate of $41.23 million. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that Brightcove Inc will post -0.16 earnings per share for the current fiscal year.
In related news, CEO Jeff Ray purchased 5,000 shares of the business’s stock in a transaction on Monday, February 25th. The shares were purchased at an average price of $8.45 per share, with a total value of $42,250.00. Following the completion of the purchase, the chief executive officer now owns 25,000 shares in the company, valued at approximately $211,250. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.90% of the company’s stock.
BCOV has been the subject of several analyst reports. Zacks Investment Research cut shares of Brightcove from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. BidaskClub upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $12.35.
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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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