StockNews.com Begins Coverage on Brightcove (NASDAQ:BCOV)

StockNews.com assumed coverage on shares of Brightcove (NASDAQ:BCOV) in a research report released on Wednesday. The firm issued a buy rating on the software maker’s stock.

A number of other research analysts also recently issued reports on the stock. Lake Street Capital lowered shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Rosenblatt Securities restated a “neutral” rating and set a $4.45 price objective (down previously from $5.00) on shares of Brightcove in a report on Monday, November 25th.

Brightcove Trading Down 0.2 %

BCOV opened at $4.33 on Wednesday. The company has a market capitalization of $195.44 million, a price-to-earnings ratio of -20.62 and a beta of 1.02. Brightcove has a 12-month low of $1.55 and a 12-month high of $4.39. The business’s fifty day simple moving average is $3.16 and its 200-day simple moving average is $2.55.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the purchase, the insider now owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. The trade was a 0.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 30,062 shares of company stock worth $62,263 in the last 90 days. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCOV. First Eagle Investment Management LLC lifted its stake in Brightcove by 81.4% during the second quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after purchasing an additional 269,302 shares during the last quarter. Edenbrook Capital LLC boosted its position in shares of Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after purchasing an additional 120,121 shares during the period. P.A.W. Capital Corp acquired a new position in Brightcove in the third quarter valued at $540,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Brightcove during the second quarter worth $142,000. Finally, Nantahala Capital Management LLC acquired a new position in Brightcove during the second quarter worth $3,114,000. Hedge funds and other institutional investors own 80.12% of the company’s stock.

About Brightcove

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.