Bright Horizons Family Solutions (NYSE:BFAM) Shares Down 8% - Here's Why

Bright Horizons Family Solutions Inc. (NYSE:BFAM - Get Free Report) shares dropped 8% on Tuesday . The stock traded as low as $121.84 and last traded at $122.17. Approximately 105,278 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 353,554 shares. The stock had previously closed at $132.83.

Wall Street Analyst Weigh In

BFAM has been the topic of several research analyst reports. BMO Capital Markets increased their price target on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a "market perform" rating in a research note on Friday, August 2nd. Morgan Stanley upped their price objective on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the stock an "underweight" rating in a report on Tuesday. Barclays lifted their target price on Bright Horizons Family Solutions from $125.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 30th. Robert W. Baird raised their target price on shares of Bright Horizons Family Solutions from $131.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Bright Horizons Family Solutions from $137.00 to $149.00 and gave the stock an "overweight" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $141.13.

Bright Horizons Family Solutions Trading Down 12.7 %

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.56 and a quick ratio of 0.56. The business's 50-day moving average price is $135.84 and its two-hundred day moving average price is $122.28. The company has a market capitalization of $6.73 billion, a P/E ratio of 66.61 and a beta of 1.49.

Insiders Place Their Bets

In other news, Director Mary Ann Tocio sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.93, for a total transaction of $327,325.00. Following the completion of the sale, the director now owns 30,257 shares of the company's stock, valued at $3,961,549.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mary Ann Tocio sold 2,500 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total value of $327,325.00. Following the sale, the director now owns 30,257 shares of the company's stock, valued at approximately $3,961,549.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mary Lou Burke sold 800 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $136.94, for a total value of $109,552.00. Following the transaction, the chief operating officer now directly owns 31,025 shares of the company's stock, valued at approximately $4,248,563.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,100 shares of company stock worth $549,397 over the last ninety days. 1.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Bright Horizons Family Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OLD National Bancorp IN lifted its position in Bright Horizons Family Solutions by 2.7% during the third quarter. OLD National Bancorp IN now owns 3,159 shares of the company's stock worth $443,000 after acquiring an additional 82 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Bright Horizons Family Solutions by 6.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,097 shares of the company's stock worth $252,000 after purchasing an additional 119 shares in the last quarter. MJP Associates Inc. ADV raised its stake in Bright Horizons Family Solutions by 7.0% in the 2nd quarter. MJP Associates Inc. ADV now owns 2,390 shares of the company's stock worth $263,000 after purchasing an additional 157 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Bright Horizons Family Solutions by 73.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 390 shares of the company's stock valued at $43,000 after purchasing an additional 165 shares during the period. Finally, Quarry LP increased its holdings in shares of Bright Horizons Family Solutions by 68.3% during the second quarter. Quarry LP now owns 436 shares of the company's stock worth $48,000 after purchasing an additional 177 shares during the period.

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.