Brightcove (NASDAQ:BCOV) Receives “Neutral” Rating from Rosenblatt Securities

Brightcove (NASDAQ:BCOV)‘s stock had its “neutral” rating reiterated by equities researchers at Rosenblatt Securities in a research report issued on Monday,Benzinga reports. They currently have a $4.45 target price on the software maker’s stock, down from their prior target price of $5.00. Rosenblatt Securities’ price target would suggest a potential upside of 3.25% from the company’s previous close.

BCOV has been the subject of several other reports. StockNews.com cut Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Lake Street Capital upgraded Brightcove from a “hold” rating to a “buy” rating and increased their price objective for the stock from $2.75 to $3.50 in a research report on Tuesday, November 5th.

Brightcove Stock Down 0.2 %

NASDAQ BCOV opened at $4.31 on Monday. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.33. The firm has a 50-day moving average price of $2.43 and a 200 day moving average price of $2.29. The stock has a market capitalization of $194.54 million, a P/E ratio of -20.57 and a beta of 0.74.

Insider Buying and Selling at Brightcove

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the transaction, the insider now owns 6,651,535 shares in the company, valued at $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 48,988 shares of company stock valued at $100,789. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Brightcove

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCOV. Mackenzie Financial Corp grew its position in shares of Brightcove by 11.0% in the second quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after purchasing an additional 6,095 shares during the last quarter. Quadrature Capital Ltd grew its holdings in Brightcove by 12.4% during the 1st quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock valued at $165,000 after buying an additional 9,353 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Brightcove by 89.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after buying an additional 10,120 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in shares of Brightcove in the second quarter worth $34,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Brightcove in the first quarter valued at $29,000. Institutional investors and hedge funds own 80.12% of the company’s stock.

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.