Acadian Asset Management LLC decreased its position in shares of Brightcove Inc. (NASDAQ:BCOV) by 69.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,591 shares of the software maker’s stock after selling 238,719 shares during the period. Acadian Asset Management LLC owned 0.31% of Brightcove worth $642,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Brightcove during the fourth quarter worth approximately $119,000. Parametric Portfolio Associates LLC increased its position in Brightcove by 14.0% in the first quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock valued at $159,000 after buying an additional 2,183 shares during the period. Citadel Advisors LLC increased its position in Brightcove by 212.1% in the first quarter. Citadel Advisors LLC now owns 18,167 shares of the software maker’s stock valued at $162,000 after buying an additional 34,367 shares during the period. American International Group Inc. increased its position in Brightcove by 7.1% in the first quarter. American International Group Inc. now owns 18,452 shares of the software maker’s stock valued at $164,000 after buying an additional 1,223 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in Brightcove by 21.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 23,154 shares of the software maker’s stock valued at $186,000 after buying an additional 4,148 shares during the period. 68.52% of the stock is currently owned by institutional investors and hedge funds.

Brightcove Inc. (BCOV) traded down 0.71% during trading on Friday, hitting $6.95. The stock had a trading volume of 254,366 shares. Brightcove Inc. has a 1-year low of $5.40 and a 1-year high of $13.80. The firm’s 50 day moving average is $6.55 and its 200 day moving average is $7.24. The firm’s market cap is $238.70 million.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, July 26th. The software maker reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.02. Brightcove had a negative net margin of 12.22% and a negative return on equity of 19.65%. The firm had revenue of $38.75 million during the quarter, compared to analysts’ expectations of $37.13 million. During the same quarter last year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Brightcove Inc. will post ($0.37) earnings per share for the current year.

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Several research firms recently weighed in on BCOV. B. Riley downgraded Brightcove from a “buy” rating to a “neutral” rating and set a $5.50 target price on the stock. in a research report on Friday, May 5th. Stifel Nicolaus reduced their target price on Brightcove from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Friday, May 5th. Zacks Investment Research downgraded Brightcove from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 18th. Northland Securities set a $7.00 target price on Brightcove and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, ValuEngine downgraded Brightcove from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $9.75.

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.

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Institutional Ownership by Quarter for Brightcove (NASDAQ:BCOV)

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