Metropolitan Life Insurance Co. NY Purchases 3,668 Shares of Brightcove Inc. (BCOV)
Metropolitan Life Insurance Co. NY boosted its position in shares of Brightcove Inc. (NASDAQ:BCOV) by 18.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,022 shares of the software maker’s stock after buying an additional 3,668 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.07% of Brightcove worth $214,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Millrace Asset Group Inc. purchased a new stake in Brightcove during the first quarter worth about $1,766,000. Vanguard Group Inc. increased its stake in Brightcove by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,859,237 shares of the software maker’s stock worth $16,548,000 after buying an additional 149,626 shares in the last quarter. Renaissance Technologies LLC increased its stake in Brightcove by 7.3% in the first quarter. Renaissance Technologies LLC now owns 1,593,500 shares of the software maker’s stock worth $14,182,000 after buying an additional 108,017 shares in the last quarter. Concourse Capital Management LLC purchased a new stake in Brightcove during the first quarter worth about $789,000. Finally, Balter Liquid Alternatives LLC increased its stake in Brightcove by 60.4% in the first quarter. Balter Liquid Alternatives LLC now owns 195,373 shares of the software maker’s stock worth $1,739,000 after buying an additional 73,603 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.
Brightcove Inc. (BCOV) traded down 1.056% on Wednesday, hitting $7.025. The stock had a trading volume of 29,808 shares. The stock’s market cap is $241.27 million. The company’s 50 day moving average is $6.73 and its 200-day moving average is $7.21. Brightcove Inc. has a 12 month low of $5.40 and a 12 month high of $13.80.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, July 26th. The software maker reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. The company had revenue of $38.75 million for the quarter, compared to analysts’ expectations of $37.13 million. Brightcove had a negative net margin of 12.22% and a negative return on equity of 19.65%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. Analysts forecast that Brightcove Inc. will post ($0.37) EPS for the current year.
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A number of equities research analysts have issued reports on BCOV shares. Stifel Nicolaus cut their price target on Brightcove from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Friday, May 5th. TheStreet downgraded Brightcove from a “c-” rating to a “d+” rating in a research note on Tuesday, May 9th. Northland Securities set a $7.00 price target on Brightcove and gave the company a “hold” rating in a research note on Friday, July 21st. ValuEngine downgraded Brightcove from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, B. Riley downgraded Brightcove from a “buy” rating to a “neutral” rating and set a $5.50 price target for the company. in a research note on Friday, May 5th. 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 stock. Brightcove has an average rating of “Hold” and a consensus target price of $9.75.
Brightcove Company Profile
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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