Brightcove (NASDAQ:BCOV) Stock Rating Lowered by Lake Street Capital

Lake Street Capital downgraded shares of Brightcove (NASDAQ:BCOV - Free Report) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Other research analysts have also issued research reports about the company. StockNews.com lowered Brightcove from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th. Rosenblatt Securities reiterated a "neutral" rating and issued a $4.45 target price (down previously from $5.00) on shares of Brightcove in a report on Monday.

Brightcove Trading Down 0.5 %

Shares of BCOV stock traded down $0.02 on Monday, reaching $4.29. The company's stock had a trading volume of 1,090,398 shares, compared to its average volume of 304,088. The stock's fifty day simple moving average is $2.48 and its 200-day simple moving average is $2.30. Brightcove has a 1 year low of $1.55 and a 1 year high of $4.33. The company has a market capitalization of $193.65 million, a price-to-earnings ratio of -20.43 and a beta of 0.74.

Insider Transactions at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the company's stock in a transaction on Thursday, September 26th. The stock was acquired at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the transaction, the insider now directly owns 6,651,535 shares of the company's stock, valued at approximately $13,768,677.45. This represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders bought 48,988 shares of company stock worth $100,789. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Brightcove

A number of institutional investors and hedge funds have recently modified their holdings of BCOV. Edenbrook Capital LLC increased its stake in Brightcove by 1.8% in the third quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker's stock worth $14,367,000 after purchasing an additional 120,121 shares during the period. Lynrock Lake LP increased its stake in Brightcove by 2.3% in the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker's stock worth $10,446,000 after buying an additional 100,000 shares during the period. Nantahala Capital Management LLC purchased a new position in Brightcove in the 2nd quarter worth about $3,114,000. Acadian Asset Management LLC increased its stake in Brightcove by 17.3% in the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker's stock worth $2,227,000 after buying an additional 139,049 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker's stock worth $1,423,000 after buying an additional 269,302 shares during the period. 80.12% of the stock is owned by institutional investors.

About Brightcove

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.