Brightcove (NASDAQ:BCOV) Downgraded to Hold Rating by Lake Street Capital

Brightcove (NASDAQ:BCOV) was downgraded by Lake Street Capital from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts have also commented on BCOV. Rosenblatt Securities reissued a “neutral” rating and set a $4.45 price target (down from $5.00) on shares of Brightcove in a research report on Monday. StockNews.com cut shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

Brightcove Trading Down 0.2 %

Shares of NASDAQ BCOV opened at $4.31 on Monday. The stock has a fifty day moving average price of $2.43 and a 200 day moving average price of $2.29. Brightcove has a 12-month low of $1.55 and a 12-month high of $4.33. The company has a market cap of $194.54 million, a P/E ratio of -20.52 and a beta of 0.74.

Insider Activity at Brightcove

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the transaction, the insider now owns 6,651,535 shares in the company, valued at $13,768,677.45. The trade was a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 48,988 shares of company stock valued at $100,789. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Brightcove

A number of hedge funds have recently added to or reduced their stakes in BCOV. State Board of Administration of Florida Retirement System boosted its stake in Brightcove by 89.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock valued at $42,000 after acquiring an additional 10,120 shares during the period. Quadrature Capital Ltd increased its position in Brightcove by 12.4% in the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock worth $165,000 after buying an additional 9,353 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in Brightcove in the 1st quarter valued at about $29,000. Aaron Wealth Advisors LLC bought a new position in Brightcove in the 2nd quarter worth about $34,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Brightcove in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.12% of the company’s stock.

About Brightcove

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.