Balyasny Asset Management LLC Invests $372,000 in Bright Horizons Family Solutions Inc. (NYSE:BFAM) Stock

Balyasny Asset Management LLC acquired a new stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,824 shares of the company’s stock, valued at approximately $372,000.

Several other hedge funds have also modified their holdings of the company. Stephens Inc. AR boosted its holdings in Bright Horizons Family Solutions by 5.2% in the 2nd quarter. Stephens Inc. AR now owns 4,561 shares of the company’s stock worth $352,000 after buying an additional 225 shares during the period. Teacher Retirement System of Texas boosted its holdings in Bright Horizons Family Solutions by 6.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,801 shares of the company’s stock worth $293,000 after buying an additional 247 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Bright Horizons Family Solutions by 1.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 29,035 shares of the company’s stock worth $2,105,000 after buying an additional 337 shares during the period. Eqis Capital Management Inc. boosted its holdings in Bright Horizons Family Solutions by 7.9% in the 2nd quarter. Eqis Capital Management Inc. now owns 5,644 shares of the company’s stock worth $436,000 after buying an additional 415 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Bright Horizons Family Solutions by 7.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,682 shares of the company’s stock worth $516,000 after buying an additional 446 shares during the period. 97.19% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Elizabeth J. Boland sold 29,681 shares of Bright Horizons Family Solutions stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $78.95, for a total transaction of $2,343,314.95. Following the sale, the chief financial officer now directly owns 141,491 shares in the company, valued at $11,170,714.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mary Lou Burke sold 750 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $79.85, for a total transaction of $59,887.50. Following the completion of the sale, the chief operating officer now owns 32,016 shares in the company, valued at $2,556,477.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,444 shares of company stock worth $6,516,524. Company insiders own 2.90% of the company’s stock.

Shares of Bright Horizons Family Solutions Inc. (BFAM) traded up 0.99% during trading on Friday, reaching $86.45. 94,705 shares of the company’s stock were exchanged. The company has a 50 day moving average of $83.71 and a 200 day moving average of $79.11. Bright Horizons Family Solutions Inc. has a 12-month low of $59.00 and a 12-month high of $88.13. The stock has a market cap of $5.11 billion, a P/E ratio of 46.13 and a beta of 0.14.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Tuesday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $445.55 million for the quarter, compared to analysts’ expectations of $443.90 million. Bright Horizons Family Solutions had a return on equity of 19.19% and a net margin of 6.91%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. Equities research analysts anticipate that Bright Horizons Family Solutions Inc. will post $2.64 EPS for the current year.

Several brokerages have commented on BFAM. Zacks Investment Research upgraded shares of Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Friday, August 4th. Citigroup Inc. assumed coverage on shares of Bright Horizons Family Solutions in a research report on Tuesday, July 18th. They set a “buy” rating and a $90.00 target price on the stock. BidaskClub cut shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets restated a “hold” rating on shares of Bright Horizons Family Solutions in a research report on Wednesday. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.83.

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Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

Institutional Ownership by Quarter for Bright Horizons Family Solutions (NYSE:BFAM)

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