Brightcove Inc (NASDAQ:BCOV) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 635,100 shares, a growth of 37.3% from the August 30th total of 462,600 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 189,700 shares, the days-to-cover ratio is presently 3.3 days.

A number of institutional investors and hedge funds have recently modified their holdings of BCOV. Marshall Wace North America L.P. bought a new stake in Brightcove in the first quarter worth $74,000. Strs Ohio lifted its position in Brightcove by 55.8% in the second quarter. Strs Ohio now owns 62,800 shares of the software maker’s stock worth $648,000 after buying an additional 22,500 shares during the last quarter. Acadian Asset Management LLC lifted its position in Brightcove by 49.0% in the second quarter. Acadian Asset Management LLC now owns 276,581 shares of the software maker’s stock worth $2,857,000 after buying an additional 90,931 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Brightcove by 16.4% in the second quarter. Allianz Asset Management GmbH now owns 406,739 shares of the software maker’s stock worth $4,202,000 after buying an additional 57,396 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Brightcove by 204.3% in the second quarter. Bank of Montreal Can now owns 4,789 shares of the software maker’s stock worth $49,000 after buying an additional 3,215 shares during the last quarter. Institutional investors own 77.01% of the company’s stock.

BCOV has been the subject of a number of research reports. ValuEngine downgraded Brightcove from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. B. Riley reiterated a “buy” rating on shares of Brightcove in a research report on Tuesday, July 23rd. Zacks Investment Research downgraded Brightcove from a “buy” rating to a “hold” rating in a research report on Friday. Finally, BidaskClub downgraded Brightcove from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Brightcove has a consensus rating of “Hold” and an average target price of $12.67.

BCOV traded down $0.05 during trading on Monday, reaching $10.55. The company had a trading volume of 74,328 shares, compared to its average volume of 146,413. The stock has a market cap of $403.84 million, a P/E ratio of -39.07 and a beta of 0.81. The business has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $10.49. Brightcove has a 52 week low of $6.88 and a 52 week high of $12.88. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.17.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, July 24th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $47.58 million during the quarter, compared to the consensus estimate of $45.74 million. Brightcove had a negative return on equity of 12.20% and a negative net margin of 10.70%. Brightcove’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. As a group, equities research analysts expect that Brightcove will post -0.08 EPS for the current fiscal year.

Brightcove Company Profile

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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