Brightcove (NASDAQ:BCOV) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV - Get Free Report) in a research note issued on Wednesday. The firm set a "buy" rating on the software maker's stock.

Several other equities research analysts have also recently weighed in on the company. Lake Street Capital cut Brightcove from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th. Rosenblatt Securities reissued a "neutral" rating and set a $4.45 price objective (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove Stock Down 0.2 %

NASDAQ:BCOV traded down $0.01 during mid-day trading on Wednesday, hitting $4.33. 250,924 shares of the stock traded hands, compared to its average volume of 309,047. Brightcove has a 12-month low of $1.55 and a 12-month high of $4.39. The company has a market cap of $195.44 million, a PE ratio of -20.62 and a beta of 1.02. The business's 50-day moving average price is $3.16 and its 200 day moving average price is $2.55.

Insider Buying and Selling at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $2.07 per share, with a total value 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. The trade was a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 30,062 shares of company stock valued at $62,263. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Brightcove

A number of hedge funds have recently bought and sold shares of BCOV. Geode Capital Management LLC lifted its stake in shares of Brightcove by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker's stock valued at $1,055,000 after buying an additional 37,584 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Brightcove by 1,124.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker's stock worth $530,000 after acquiring an additional 225,482 shares during the period. Edenbrook Capital LLC grew its position in shares of Brightcove by 1.8% during the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker's stock worth $14,367,000 after buying an additional 120,121 shares in the last quarter. P.A.W. Capital Corp purchased a new stake in shares of Brightcove in the 3rd quarter worth approximately $540,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Brightcove in the 2nd quarter valued at $54,000. Hedge funds and other institutional investors own 80.12% of the company's stock.

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.