Brightcove Inc. (NASDAQ:BCOV) Stake Increased by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC boosted its stake in Brightcove Inc. (NASDAQ:BCOV) by 29.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,923 shares of the software maker’s stock after buying an additional 39,511 shares during the period. TIAA CREF Investment Management LLC’s holdings in Brightcove were worth $1,557,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pembroke Management LTD increased its position in Brightcove by 32.3% in the first quarter. Pembroke Management LTD now owns 1,183,800 shares of the software maker’s stock valued at $10,535,000 after buying an additional 289,300 shares during the period. Millrace Asset Group Inc. bought a new position in Brightcove during the first quarter valued at approximately $1,766,000. Essex Investment Management Co. LLC increased its position in Brightcove by 32.2% in the first quarter. Essex Investment Management Co. LLC now owns 132,261 shares of the software maker’s stock valued at $1,177,000 after buying an additional 32,178 shares during the period. Algert Global LLC increased its position in Brightcove by 13.0% in the first quarter. Algert Global LLC now owns 277,351 shares of the software maker’s stock valued at $2,468,000 after buying an additional 31,954 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in Brightcove during the fourth quarter valued at approximately $225,000. 68.52% of the stock is owned by institutional investors.
Brightcove Inc. (BCOV) traded down 0.71% on Friday, hitting $6.95. 254,366 shares of the company’s stock traded hands. The stock’s market cap is $238.70 million. Brightcove Inc. has a one year low of $5.40 and a one year high of $13.80. The stock has a 50-day moving average of $6.55 and a 200-day moving average of $7.24.
Brightcove (NASDAQ:BCOV) last released its earnings results on Wednesday, July 26th. The software maker reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $38.75 million for the quarter, compared to analysts’ expectations of $37.13 million. Brightcove had a negative return on equity of 19.65% and a negative net margin of 12.22%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. On average, equities analysts forecast that Brightcove Inc. will post ($0.37) earnings per share for the current fiscal year.
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BCOV has been the subject of several research reports. Zacks Investment Research downgraded shares of Brightcove from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 18th. B. Riley downgraded shares of Brightcove from a “buy” rating to a “neutral” rating and set a $5.50 price objective for the company. in a report on Friday, May 5th. Stifel Nicolaus dropped their price objective 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. TheStreet downgraded shares of Brightcove from a “c-” rating to a “d+” rating in a report on Tuesday, May 9th. Finally, ValuEngine downgraded shares of Brightcove from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Brightcove currently has an average rating of “Hold” and an average price target of $9.75.
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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