First Mercantile Trust Co. reduced its stake in shares of Brightcove Inc (NASDAQ:BCOV) by 5.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,634 shares of the software maker’s stock after selling 2,237 shares during the quarter. First Mercantile Trust Co.’s holdings in Brightcove were worth $373,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Trigran Investments Inc. grew its stake in shares of Brightcove by 0.4% during the second quarter. Trigran Investments Inc. now owns 3,496,887 shares of the software maker’s stock valued at $36,123,000 after buying an additional 15,309 shares during the last quarter. Tenzing Global Management LLC grew its stake in shares of Brightcove by 4.5% during the second quarter. Tenzing Global Management LLC now owns 2,950,000 shares of the software maker’s stock valued at $30,474,000 after buying an additional 127,357 shares during the last quarter. BlackRock Inc. grew its stake in shares of Brightcove by 6.4% during the second quarter. BlackRock Inc. now owns 2,454,233 shares of the software maker’s stock valued at $25,353,000 after buying an additional 148,103 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Brightcove by 0.9% during the second quarter. Renaissance Technologies LLC now owns 2,190,351 shares of the software maker’s stock valued at $22,626,000 after buying an additional 19,300 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Brightcove by 6.4% during the second quarter. Vanguard Group Inc. now owns 1,913,253 shares of the software maker’s stock valued at $19,764,000 after buying an additional 114,262 shares during the last quarter. 75.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:BCOV opened at $9.41 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $10.04 and its 200-day moving average price is $10.68. The stock has a market capitalization of $367.25 million, a P/E ratio of -34.85 and a beta of 0.77. Brightcove Inc has a 12-month low of $6.88 and a 12-month high of $12.88.
Brightcove (NASDAQ:BCOV) last posted its earnings results on Wednesday, October 23rd. The software maker reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The company had revenue of $47.43 million during the quarter, compared to analyst estimates of $47.26 million. Brightcove had a negative net margin of 10.02% and a negative return on equity of 7.81%. Brightcove’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, research analysts predict that Brightcove Inc will post -0.09 EPS for the current year.
A number of research analysts have recently issued reports on BCOV shares. Zacks Investment Research cut Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 29th. B. Riley reaffirmed a “buy” rating on shares of Brightcove in a research note on Tuesday, July 23rd. BidaskClub raised Brightcove from a “sell” rating to a “hold” rating in a research note on Tuesday. Northland Securities reaffirmed a “buy” rating and set a $14.00 price objective on shares of Brightcove in a research note on Thursday, October 24th. Finally, ValuEngine cut Brightcove from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.33.
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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