Kayne Anderson Rudnick Investment Management LLC Cuts Position in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,104,511 shares of the company's stock after selling 66,285 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 5.34% of Bright Horizons Family Solutions worth $344,135,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc bought a new stake in shares of Bright Horizons Family Solutions during the 4th quarter valued at about $25,000. Atala Financial Inc bought a new stake in Bright Horizons Family Solutions during the fourth quarter valued at approximately $32,000. Tortoise Investment Management LLC lifted its position in Bright Horizons Family Solutions by 76.7% during the fourth quarter. Tortoise Investment Management LLC now owns 417 shares of the company's stock valued at $46,000 after purchasing an additional 181 shares during the last quarter. Anchor Investment Management LLC grew its stake in Bright Horizons Family Solutions by 423.2% in the 3rd quarter. Anchor Investment Management LLC now owns 654 shares of the company's stock worth $92,000 after buying an additional 529 shares in the last quarter. Finally, Avanza Fonder AB bought a new position in shares of Bright Horizons Family Solutions in the 4th quarter worth $93,000.

Insider Transactions at Bright Horizons Family Solutions

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

Analysts Set New Price Targets

BFAM has been the subject of several research reports. UBS Group cut their target price 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. Morgan Stanley cut their price objective on Bright Horizons Family Solutions from $102.00 to $100.00 and set an "underweight" rating for the company in a report on Tuesday, February 11th. BMO Capital Markets raised their price objective on Bright Horizons Family Solutions from $127.00 to $146.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. The Goldman Sachs Group dropped 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. Finally, Jefferies Financial Group decreased their price target on shares of Bright Horizons Family Solutions from $155.00 to $132.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. One 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 stock. According to MarketBeat.com, Bright Horizons Family Solutions has an average rating of "Moderate Buy" and a consensus price target of $137.67.

Bright Horizons Family Solutions Trading Down 0.0 %

BFAM traded down $0.04 during trading on Thursday, hitting $119.79. 274,874 shares of the stock traded hands, compared to its average volume of 439,686. The firm has a 50-day moving average of $123.40 and a 200 day moving average of $120.25. Bright Horizons Family Solutions Inc. has a 12-month low of $100.59 and a 12-month high of $141.90. The firm has a market capitalization of $6.87 billion, a P/E ratio of 49.91 and a beta of 1.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.61 and a quick 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 earnings per share for the quarter, missing analysts' consensus estimates 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 anticipate that Bright Horizons Family Solutions Inc. will post 3.61 EPS for the current 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.