Bank of Nova Scotia Makes New $355,000 Investment in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Bank of Nova Scotia acquired a new position in Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,206 shares of the company's stock, valued at approximately $355,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd increased its position in shares of Bright Horizons Family Solutions by 62.8% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 7,097 shares of the company's stock worth $787,000 after purchasing an additional 2,739 shares during the last quarter. New York Life Investment Management LLC acquired a new stake in Bright Horizons Family Solutions during the fourth quarter valued at approximately $679,000. New York State Common Retirement Fund lifted its holdings in Bright Horizons Family Solutions by 45.4% during the 4th quarter. New York State Common Retirement Fund now owns 115,183 shares of the company's stock worth $12,768,000 after buying an additional 35,959 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Bright Horizons Family Solutions in the 4th quarter valued at approximately $5,212,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Bright Horizons Family Solutions during the 4th quarter valued at approximately $739,000.

Insiders Place Their Bets

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 1,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the completion of the transaction, the chief operating officer now owns 33,449 shares of the company's stock, valued at $4,170,755.81. The trade was a 2.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Ann Tocio sold 2,500 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $124.74, for a total value of $311,850.00. Following the completion of the transaction, the director now directly owns 22,757 shares in the company, valued at approximately $2,838,708.18. This represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BFAM shares. UBS Group lowered their price objective on shares of Bright Horizons Family Solutions from $148.00 to $130.00 and set a "neutral" rating for the company in a research report on Friday, January 24th. Jefferies Financial Group reduced their price objective on shares of Bright Horizons Family Solutions from $155.00 to $132.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Morgan Stanley dropped their price target on shares of Bright Horizons Family Solutions from $102.00 to $100.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 11th. BMO Capital Markets raised their price objective on shares of Bright Horizons Family Solutions from $127.00 to $146.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group cut their target price on Bright Horizons Family Solutions from $162.00 to $142.00 and set a "buy" rating for the company in a research report on Friday, December 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.67.

Bright Horizons Family Solutions Stock Down 0.3 %

Shares of Bright Horizons Family Solutions stock traded down $0.40 during trading on Friday, hitting $116.32. 255,170 shares of the stock traded hands, compared to its average volume of 437,076. The company has a fifty day moving average price of $123.72 and a two-hundred day moving average price of $120.83. Bright Horizons Family Solutions Inc. has a twelve month low of $100.59 and a twelve month high of $141.90. The stock has a market cap of $6.67 billion, a P/E ratio of 48.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 0.61.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.03). Bright Horizons Family Solutions had a return on equity of 13.63% and a net margin of 5.22%. Equities research analysts predict that Bright Horizons Family Solutions Inc. will post 3.61 EPS for the current fiscal year.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.