Mcclain Value Management LLC raised its position in Brightcove Inc (NASDAQ:BCOV) by 36.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,897 shares of the software maker’s stock after purchasing an additional 156,159 shares during the quarter. Brightcove makes up approximately 7.8% of Mcclain Value Management LLC’s holdings, making the stock its 2nd biggest position. Mcclain Value Management LLC owned about 1.52% of Brightcove worth $6,161,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Brightcove by 204.3% during the 2nd quarter. Bank of Montreal Can now owns 4,789 shares of the software maker’s stock worth $49,000 after acquiring an additional 3,215 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Brightcove during the 1st quarter worth about $74,000. Cadence Capital Management LLC bought a new stake in shares of Brightcove during the 3rd quarter worth about $139,000. A.R.T. Advisors LLC bought a new stake in shares of Brightcove during the 2nd quarter worth about $142,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Brightcove by 192.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,729 shares of the software maker’s stock worth $270,000 after acquiring an additional 16,929 shares in the last quarter. Hedge funds and other institutional investors own 75.13% of the company’s stock.
Shares of NASDAQ BCOV traded down $0.08 during trading hours on Friday, hitting $9.41. 103,500 shares of the company’s stock were exchanged, compared to its average volume of 149,899. Brightcove Inc has a 1-year low of $6.88 and a 1-year high of $12.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $367.25 million, a price-to-earnings ratio of -34.85 and a beta of 0.77. The company’s 50-day moving average price is $10.07 and its 200-day moving average price is $10.67.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, October 23rd. The software maker reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. Brightcove had a negative return on equity of 7.81% and a negative net margin of 10.02%. The business had revenue of $47.43 million during the quarter, compared to analysts’ expectations of $47.26 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The firm’s revenue was up 15.4% compared to the same quarter last year. On average, research analysts expect that Brightcove Inc will post -0.09 earnings per share for the current year.
Several analysts have recently issued reports on the company. BidaskClub upgraded Brightcove from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine downgraded Brightcove from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. B. Riley reiterated a “buy” rating on shares of Brightcove in a research note on Tuesday, July 23rd. Zacks Investment Research downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Northland Securities reiterated a “buy” rating and set a $14.00 price target on shares of Brightcove in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.33.
Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.
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