Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Buys $41,400.00 in Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the transaction, the insider now directly owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Wednesday, September 18th, Edenbrook Capital, Llc acquired 2,096 shares of Brightcove stock. The stock was bought at an average cost of $2.00 per share, for a total transaction of $4,192.00.
• On Tuesday, September 10th, Edenbrook Capital, Llc acquired 5,230 shares of Brightcove stock. The stock was bought at an average cost of $2.04 per share, for a total transaction of $10,669.20.
• On Friday, September 6th, Edenbrook Capital, Llc acquired 11,600 shares of Brightcove stock. The stock was bought at an average cost of $2.04 per share, for a total transaction of $23,664.00.
• On Monday, August 12th, Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock. The stock was acquired at an average price of $1.98 per share, for a total transaction of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc purchased 30,000 shares of Brightcove stock. The stock was acquired at an average price of $2.01 per share, for a total transaction of $60,300.00.

Brightcove Stock Performance

BCOV stock opened at $2.37 on Wednesday. The company’s 50-day simple moving average is $2.16 and its 200 day simple moving average is $2.09. Brightcove Inc. has a 52 week low of $1.55 and a 52 week high of $3.37. The company has a market capitalization of $105.66 million, a PE ratio of -10.77 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $49.25 million for the quarter. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. During the same quarter last year, the company posted ($0.07) earnings per share. On average, analysts forecast that Brightcove Inc. will post -0.32 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Institutional Investors Weigh In On Brightcove

A number of large investors have recently bought and sold shares of BCOV. Pitcairn Co. acquired a new stake in Brightcove during the first quarter worth about $27,000. Price T Rowe Associates Inc. MD acquired a new stake in Brightcove during the first quarter worth about $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Brightcove during the first quarter worth about $33,000. Aaron Wealth Advisors LLC acquired a new stake in Brightcove during the second quarter worth about $34,000. Finally, XTX Topco Ltd bought a new position in shares of Brightcove in the second quarter worth about $36,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.