Balter Liquid Alternatives LLC Has $1.74 Million Stake in Brightcove Inc (BCOV)
Balter Liquid Alternatives LLC boosted its position in Brightcove Inc (NASDAQ:BCOV) by 60.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 195,373 shares of the software maker’s stock after buying an additional 73,603 shares during the period. Brightcove accounts for approximately 2.5% of Balter Liquid Alternatives LLC’s portfolio, making the stock its 11th largest position. Balter Liquid Alternatives LLC’s holdings in Brightcove were worth $1,739,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BCOV. Highbridge Capital Management LLC purchased a new position in shares of Brightcove during the fourth quarter worth $225,000. AQR Capital Management LLC raised its stake in shares of Brightcove by 56.6% in the fourth quarter. AQR Capital Management LLC now owns 414,774 shares of the software maker’s stock worth $3,339,000 after buying an additional 149,830 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Brightcove during the fourth quarter worth approximately $119,000. Cortina Asset Management LLC raised its stake in shares of Brightcove by 39.9% in the fourth quarter. Cortina Asset Management LLC now owns 1,031,380 shares of the software maker’s stock worth $8,303,000 after buying an additional 293,951 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in shares of Brightcove by 32.2% in the first quarter. Essex Investment Management Co. LLC now owns 132,261 shares of the software maker’s stock worth $1,177,000 after buying an additional 32,178 shares during the last quarter. 70.96% of the stock is currently owned by institutional investors.
Brightcove Inc (BCOV) traded down 1.60% during mid-day trading on Friday, reaching $6.15. 327,647 shares of the company’s stock were exchanged. The stock’s market cap is $207.77 million. The company has a 50-day moving average of $6.85 and a 200-day moving average of $7.74. Brightcove Inc has a 52-week low of $5.40 and a 52-week high of $13.80.
Brightcove (NASDAQ:BCOV) last issued its earnings results on Thursday, May 4th. The software maker reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $37.60 million for the quarter, compared to the consensus estimate of $37.38 million. Brightcove had a negative return on equity of 4.00% and a negative net margin of 3.71%. Brightcove’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. Equities research analysts anticipate that Brightcove Inc will post ($0.26) earnings per share for the current year.
Several brokerages have issued reports on BCOV. TheStreet lowered shares of Brightcove from a “c-” rating to a “d+” rating in a research note on Tuesday, May 9th. B. Riley reissued a “buy” rating and issued a $14.00 price objective on shares of Brightcove in a research report on Wednesday, February 22nd. Zacks Investment Research downgraded shares of Brightcove from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 18th. ValuEngine downgraded shares of Brightcove from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Stifel Nicolaus reduced their target price on shares of Brightcove from $13.00 to $10.50 and set a “buy” rating for the company in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.25.
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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