Brightcove (NASDAQ:BCOV) Stock Rating Lowered by StockNews.com

Brightcove (NASDAQ:BCOV) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

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

Brightcove Price Performance

BCOV stock opened at $3.00 on Wednesday. Brightcove has a 12 month low of $1.55 and a 12 month high of $3.08. The firm has a 50 day simple moving average of $2.36 and a 200 day simple moving average of $2.25. The firm has a market cap of $135.42 million, a PE ratio of -14.29 and a beta of 0.74.

Insider Buying and Selling

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the company’s stock in a transaction on 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 purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders purchased 48,988 shares of company stock worth $100,789. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brightcove

Institutional investors and hedge funds have recently modified their holdings of the stock. Pitcairn Co. purchased a new stake in shares of Brightcove during the first quarter worth $27,000. Price T Rowe Associates Inc. MD acquired a new position in Brightcove in the 1st quarter worth about $29,000. Aaron Wealth Advisors LLC purchased a new stake in shares of Brightcove during the 2nd quarter worth about $34,000. XTX Topco Ltd acquired a new stake in shares of Brightcove during the 2nd quarter valued at about $36,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Brightcove by 89.3% in the 1st 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 buying an additional 10,120 shares in the last quarter. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Brightcove Company 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.