Point72 Asia Singapore Pte. Ltd. Takes $142,000 Position in Brightcove Inc. (NASDAQ:BCOV)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Brightcove Inc. (NASDAQ:BCOV) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 59,755 shares of the software maker’s stock, valued at approximately $142,000.

Other hedge funds have also recently bought and sold shares of the company. Quadrature Capital Ltd increased its holdings in shares of Brightcove by 87.9% during the 4th quarter. Quadrature Capital Ltd now owns 75,610 shares of the software maker’s stock valued at $196,000 after acquiring an additional 35,360 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Brightcove in the 1st quarter worth approximately $33,000. BNP Paribas Financial Markets boosted its position in Brightcove by 26.6% during the first quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker’s stock worth $208,000 after purchasing an additional 22,466 shares during the period. GSA Capital Partners LLP grew its holdings in Brightcove by 151.0% during the first quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock valued at $437,000 after purchasing an additional 135,462 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Brightcove by 89.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock valued at $42,000 after purchasing an additional 10,120 shares during the period. 80.12% of the stock is owned by institutional investors and hedge funds.

Brightcove Stock Performance

Brightcove stock opened at $2.15 on Friday. Brightcove Inc. has a 52 week low of $1.55 and a 52 week high of $3.37. The firm has a market capitalization of $95.85 million, a PE ratio of -9.77 and a beta of 0.74. The business’s 50-day simple moving average is $2.17 and its 200-day simple moving average is $2.08.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. The company had revenue of $49.25 million for the quarter. During the same period in the prior year, the firm earned ($0.07) earnings per share. Research analysts forecast that Brightcove Inc. will post -0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $1.98 per share, with a total value of $39,600.00. Following the acquisition, the insider now directly owns 6,581,414 shares in the company, valued at $13,031,199.72. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have purchased 68,926 shares of company stock valued at $138,425. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

Brightcove 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.