Brightcove (NASDAQ:BCOV) Stock Rating Upgraded by StockNews.com

Brightcove (NASDAQ:BCOV - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Thursday.

Brightcove Price Performance

Shares of NASDAQ:BCOV traded down $0.02 on Thursday, hitting $2.07. 47,014 shares of the company's stock were exchanged, compared to its average volume of 250,364. The stock has a market capitalization of $92.28 million, a price-to-earnings ratio of -9.41 and a beta of 0.74. Brightcove has a 12 month low of $1.55 and a 12 month high of $3.88. The business's 50 day simple moving average is $2.30 and its two-hundred day simple moving average is $2.09.

Brightcove (NASDAQ:BCOV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. The company had revenue of $49.25 million during the quarter. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. During the same quarter in the previous year, the business earned ($0.07) EPS. Equities analysts forecast that Brightcove will post -0.32 EPS for the current fiscal year.

Insider Activity at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of Brightcove stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $1.98 per share, with a total value of $39,600.00. Following the transaction, the insider now directly owns 6,581,414 shares of the company's stock, valued at approximately $13,031,199.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 55,000 shares of company stock valued at $110,000 over the last 90 days. Insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Brightcove

A number of large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in Brightcove by 11.0% during the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker's stock worth $145,000 after buying an additional 6,095 shares during the last quarter. Quadrature Capital Ltd boosted its stake in shares of Brightcove by 12.4% during the 1st quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker's stock worth $165,000 after acquiring an additional 9,353 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Brightcove by 89.3% during the 1st 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 during the period. Pitcairn Co. purchased a new position in shares of Brightcove in the 1st quarter valued at about $27,000. Finally, Aaron Wealth Advisors LLC acquired a new position in Brightcove in the 2nd quarter worth about $34,000. 80.12% of the stock is owned by hedge funds and other 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.

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