Sterling Capital Management LLC Buys New Stake in Brightcove Inc (NASDAQ:BCOV)

Sterling Capital Management LLC acquired a new position in Brightcove Inc (NASDAQ:BCOV) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 59,709 shares of the software maker’s stock, valued at approximately $430,000. Sterling Capital Management LLC owned 0.17% of Brightcove as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Brightcove by 30.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock worth $101,000 after acquiring an additional 3,764 shares in the last quarter. Voya Investment Management LLC increased its position in Brightcove by 18.8% during the 2nd quarter. Voya Investment Management LLC now owns 21,932 shares of the software maker’s stock valued at $136,000 after buying an additional 3,465 shares in the last quarter. Alliancebernstein L.P. increased its position in Brightcove by 106.8% during the 2nd quarter. Alliancebernstein L.P. now owns 24,400 shares of the software maker’s stock valued at $151,000 after buying an additional 12,600 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Brightcove by 22.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,591 shares of the software maker’s stock valued at $183,000 after buying an additional 5,494 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Brightcove by 71.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 30,532 shares of the software maker’s stock valued at $189,000 after buying an additional 12,713 shares in the last quarter. Institutional investors and hedge funds own 62.36% of the company’s stock.

Brightcove Inc (NASDAQ:BCOV) remained flat at $$7.10 during midday trading on Friday. 76,965 shares of the company’s stock were exchanged, compared to its average volume of 140,240. Brightcove Inc has a 12 month low of $5.40 and a 12 month high of $9.30. The company has a market capitalization of $245.89, a PE ratio of -10.76 and a beta of 1.87.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. Brightcove had a negative return on equity of 25.11% and a negative net margin of 14.58%. The business had revenue of $39.50 million for the quarter, compared to the consensus estimate of $37.99 million. During the same period in the previous year, the business earned $0.02 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. research analysts forecast that Brightcove Inc will post -0.54 EPS for the current fiscal year.

A number of analysts have commented on the company. Northland Securities raised Brightcove from a “market perform” rating to an “outperform” rating in a report on Friday, October 27th. Zacks Investment Research upgraded Brightcove from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Stifel Nicolaus raised their price target on Brightcove from $10.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, B. Riley restated a “hold” rating and issued a $7.25 price target on shares of Brightcove in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.44.

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About Brightcove

Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.

Institutional Ownership by Quarter for Brightcove (NASDAQ:BCOV)

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