Tygh Capital Management Inc. Reduces Stake in Bright Horizons Family Solutions (BFAM)

Tygh Capital Management Inc. cut its stake in Bright Horizons Family Solutions (NYSE:BFAM) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,482 shares of the company’s stock after selling 570 shares during the quarter. Bright Horizons Family Solutions makes up 1.4% of Tygh Capital Management Inc.’s portfolio, making the stock its 24th biggest holding. Tygh Capital Management Inc. owned 0.13% of Bright Horizons Family Solutions worth $7,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in Bright Horizons Family Solutions by 4.8% during the first quarter. BlackRock Inc. now owns 2,495,381 shares of the company’s stock worth $248,840,000 after buying an additional 114,003 shares during the last quarter. Alliancebernstein L.P. increased its position in Bright Horizons Family Solutions by 9.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,176,000 shares of the company’s stock worth $204,544,000 after buying an additional 182,060 shares during the last quarter. TimesSquare Capital Management LLC increased its position in Bright Horizons Family Solutions by 3.9% during the fourth quarter. TimesSquare Capital Management LLC now owns 2,098,964 shares of the company’s stock worth $197,303,000 after buying an additional 78,395 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Bright Horizons Family Solutions by 25.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,251,082 shares of the company’s stock worth $117,602,000 after buying an additional 254,336 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in Bright Horizons Family Solutions by 0.6% during the fourth quarter. Brown Advisory Inc. now owns 1,213,542 shares of the company’s stock worth $114,074,000 after buying an additional 7,681 shares during the last quarter. 98.49% of the stock is currently owned by institutional investors and hedge funds.

BFAM stock opened at $99.41 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.38 and a quick ratio of 0.38. Bright Horizons Family Solutions has a 52-week low of $75.55 and a 52-week high of $105.04. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 2.24 and a beta of 0.09.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings results on Monday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. Bright Horizons Family Solutions had a net margin of 8.58% and a return on equity of 21.28%. The company had revenue of $463.66 million during the quarter, compared to analysts’ expectations of $461.15 million. During the same period in the prior year, the company earned $0.61 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. equities analysts anticipate that Bright Horizons Family Solutions will post 2.96 EPS for the current fiscal year.

In related news, CEO Stephen Howard Kramer sold 2,961 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $99.61, for a total value of $294,945.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth J. Boland sold 6,000 shares of the stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $99.09, for a total transaction of $594,540.00. Following the completion of the sale, the chief financial officer now owns 140,113 shares of the company’s stock, valued at approximately $13,883,797.17. The disclosure for this sale can be found here. Insiders have sold 164,077 shares of company stock valued at $16,608,061 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Several equities analysts have commented on the stock. Goldman Sachs assumed coverage on shares of Bright Horizons Family Solutions in a research report on Tuesday, March 27th. They set a “neutral” rating and a $104.00 target price on the stock. Zacks Investment Research raised shares of Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Monday, March 26th. ValuEngine raised shares of Bright Horizons Family Solutions from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Royal Bank of Canada downgraded shares of Bright Horizons Family Solutions from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $95.00 to $98.00 in a research report on Tuesday, April 3rd. They noted that the move was a valuation call. Finally, Citigroup upped their price target on shares of Bright Horizons Family Solutions from $107.00 to $112.00 and gave the company a “buy” rating in a report on Friday, May 4th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $103.73.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides child care and early education, back-up dependent care, and educational advisory services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Dependent Care, and Other Educational Advisory Services.

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Institutional Ownership by Quarter for Bright Horizons Family Solutions (NYSE:BFAM)

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