Brightcove (NASDAQ:BCOV) Downgraded to Buy Rating by StockNews.com

StockNews.com cut shares of Brightcove (NASDAQ:BCOV - Free Report) from a strong-buy rating to a buy rating in a research note published on Wednesday.

Separately, Lake Street Capital raised Brightcove from a "hold" rating to a "buy" rating and lifted their price target for the stock from $2.75 to $3.50 in a research report on Tuesday, November 5th.

Brightcove Price Performance

Brightcove stock traded up $0.04 during midday trading on Wednesday, hitting $2.99. 332,607 shares of the company were exchanged, compared to its average volume of 243,543. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $3.08. The company's fifty day moving average price is $2.33 and its 200-day moving average price is $2.24. The company has a market cap of $134.97 million, a PE ratio of -14.05 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 business's stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the purchase, the insider now owns 6,651,535 shares in the company, valued at $13,768,677.45. This represents a 0.30 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased 48,988 shares of company stock valued at $100,789 in the last quarter. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Brightcove

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in Brightcove by 26.6% in the first quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker's stock valued at $208,000 after buying an additional 22,466 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Brightcove by 89.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker's stock worth $42,000 after acquiring an additional 10,120 shares during the period. Acadian Asset Management LLC raised its stake in shares of Brightcove by 12.5% in the first quarter. Acadian Asset Management LLC now owns 801,459 shares of the software maker's stock valued at $1,553,000 after acquiring an additional 88,935 shares during the last quarter. Pitcairn Co. bought a new stake in shares of Brightcove in the first quarter worth about $27,000. Finally, Quadrature Capital Ltd increased its stake in shares of Brightcove by 12.4% during the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker's stock worth $165,000 after purchasing an additional 9,353 shares during the period. Institutional investors and hedge funds 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.