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.
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 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.
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