Arrowstreet Capital Limited Partnership Invests $286,000 in Brightcove Inc (BCOV)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Brightcove Inc (NASDAQ:BCOV) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 40,275 shares of the software maker’s stock, valued at approximately $286,000. Arrowstreet Capital Limited Partnership owned about 0.12% of Brightcove as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in BCOV. Litespeed Management L.L.C. purchased a new stake in Brightcove during the 3rd quarter valued at about $8,570,000. Discovery Group I LLC bought a new position in Brightcove during the 3rd quarter valued at about $1,763,000. Emancipation Management LLC bought a new position in Brightcove during the 3rd quarter valued at about $1,071,000. Vanguard Group Inc. lifted its stake in Brightcove by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,004,632 shares of the software maker’s stock valued at $12,428,000 after acquiring an additional 145,395 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its stake in Brightcove by 5.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,588,311 shares of the software maker’s stock valued at $18,377,000 after acquiring an additional 132,988 shares during the period. 62.10% of the stock is currently owned by institutional investors.

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BCOV traded up $0.05 during midday trading on Friday, hitting $7.05. 89,406 shares of the company traded hands, compared to its average volume of 157,143. The stock has a market capitalization of $244.66, a P/E ratio of -14.69 and a beta of 1.76. Brightcove Inc has a 52 week low of $5.40 and a 52 week high of $8.90.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. Brightcove had a negative net margin of 12.52% and a negative return on equity of 23.20%. The firm had revenue of $40.10 million for the quarter, compared to analysts’ expectations of $39.52 million. During the same quarter in the prior year, the business earned $0.03 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. research analysts forecast that Brightcove Inc will post -0.23 earnings per share for the current fiscal year.

BCOV has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Brightcove from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday, March 7th. BidaskClub upgraded shares of Brightcove from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $8.31.

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Brightcove Profile

Brightcove Inc provides cloud-based services for video. The company offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. Its Video Cloud platform offers various features and functionalities, such as uploading and encoding, content management, video player technology, multi-platform video experiences, live video streaming, distribution and syndication, social media, advertising and monetization, and analytics, as well as APIs, SDKs, and developer resources.

Institutional Ownership by Quarter for Brightcove (NASDAQ:BCOV)

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