Spark Investment Management LLC Lowers Position in Brightcove Inc. (BCOV)
Spark Investment Management LLC lowered its stake in shares of Brightcove Inc. (NASDAQ:BCOV) by 41.3% during the second quarter, Holdings Channel reports. The fund owned 84,200 shares of the software maker’s stock after selling 59,200 shares during the period. Spark Investment Management LLC’s holdings in Brightcove were worth $522,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of BCOV. Nuveen Asset Management LLC raised its position in Brightcove by 162.8% in the first quarter. Nuveen Asset Management LLC now owns 752,554 shares of the software maker’s stock valued at $6,698,000 after buying an additional 466,225 shares during the last quarter. Horrell Capital Management Inc. acquired a new position in shares of Brightcove during the second quarter worth $2,325,000. Pembroke Management LTD raised its position in shares of Brightcove by 32.3% in the first quarter. Pembroke Management LTD now owns 1,183,800 shares of the software maker’s stock worth $10,535,000 after buying an additional 289,300 shares in the last quarter. Millrace Asset Group Inc. acquired a new position in shares of Brightcove during the first quarter worth $1,766,000. Finally, Vanguard Group Inc. raised its position in shares of Brightcove by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,859,237 shares of the software maker’s stock worth $16,548,000 after buying an additional 149,626 shares in the last quarter. Institutional investors own 68.52% of the company’s stock.
Brightcove Inc. (BCOV) opened at 6.95 on Friday. The company’s market cap is $238.70 million. Brightcove Inc. has a 12 month low of $5.40 and a 12 month high of $13.80. The firm’s 50-day moving average is $6.55 and its 200-day moving average is $7.24.
Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Wednesday, July 26th. The software maker reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. Brightcove had a negative net margin of 12.22% and a negative return on equity of 19.65%. The business had revenue of $38.75 million for the quarter, compared to analysts’ expectations of $37.13 million. During the same period in the previous year, the company earned ($0.01) EPS. Brightcove’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Brightcove Inc. will post ($0.37) EPS for the current fiscal year.
BCOV has been the subject of a number of research reports. TheStreet lowered shares of Brightcove from a “c-” rating to a “d+” rating in a research report on Tuesday, May 9th. Zacks Investment Research lowered shares of Brightcove from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. ValuEngine lowered shares of Brightcove from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Northland Securities set a $7.00 target price on shares of Brightcove and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, B. Riley reiterated a “neutral” rating and set a $5.50 target price on shares of Brightcove in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Brightcove has a consensus rating of “Hold” and a consensus target price 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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