Brightcove (NASDAQ:BCOV) Downgraded to Hold at StockNews.com

Brightcove (NASDAQ:BCOV - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Monday.

Brightcove Trading Up 6.2 %

NASDAQ:BCOV traded up $0.13 during trading hours on Monday, reaching $2.22. 162,013 shares of the company traded hands, compared to its average volume of 255,224. The business's 50-day moving average price is $2.29 and its two-hundred day moving average price is $2.09. Brightcove has a 1 year low of $1.55 and a 1 year high of $3.96. The stock has a market capitalization of $98.97 million, a P/E ratio of -10.09 and a beta of 0.74.

Insider Transactions at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $1.98 per share, with a total value of $39,600.00. Following the acquisition, the insider now directly owns 6,581,414 shares of the company's stock, valued at $13,031,199.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased 60,700 shares of company stock worth $121,514 over the last three months. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Brightcove

Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its stake in Brightcove by 11.0% in the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker's stock worth $145,000 after purchasing an additional 6,095 shares during the period. Quadrature Capital Ltd grew its stake in Brightcove by 12.4% during the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker's stock valued at $165,000 after acquiring an additional 9,353 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Brightcove by 89.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker's stock valued at $42,000 after acquiring an additional 10,120 shares in the last quarter. Pitcairn Co. bought a new stake in Brightcove in the 1st quarter valued at $27,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in Brightcove in the 2nd quarter worth $34,000. 80.12% of the stock is owned by hedge funds and other institutional investors.

Brightcove Company Profile

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.

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