Mackenzie Financial Corp Sells 106,870 Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Mackenzie Financial Corp decreased its position in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 19.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 435,580 shares of the company's stock after selling 106,870 shares during the period. Mackenzie Financial Corp owned about 0.75% of Bright Horizons Family Solutions worth $47,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BFAM. Riverview Trust Co bought a new stake in Bright Horizons Family Solutions during the 1st quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Bright Horizons Family Solutions by 850.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 342 shares of the company's stock worth $38,000 after purchasing an additional 306 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Bright Horizons Family Solutions during the first quarter valued at approximately $40,000. Daiwa Securities Group Inc. increased its holdings in shares of Bright Horizons Family Solutions by 73.3% in the second quarter. Daiwa Securities Group Inc. now owns 390 shares of the company's stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Bright Horizons Family Solutions in the 2nd quarter worth approximately $110,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their price target on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a "buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Morgan Stanley raised their target price on shares of Bright Horizons Family Solutions from $92.00 to $100.00 and gave the company an "underweight" rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets lifted their price target on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a "market perform" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $129.25.

Bright Horizons Family Solutions Trading Down 0.8 %

Shares of Bright Horizons Family Solutions stock traded down $1.10 during trading on Friday, hitting $138.68. 255,685 shares of the company were exchanged, compared to its average volume of 348,246. The firm has a market capitalization of $8.04 billion, a P/E ratio of 97.66 and a beta of 1.48. The firm's fifty day moving average price is $133.82 and its 200 day moving average price is $118.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.56 and a quick ratio of 0.56. Bright Horizons Family Solutions Inc. has a 1-year low of $71.65 and a 1-year high of $141.90.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.73 by $0.15. The firm had revenue of $670.10 million during the quarter, compared to the consensus estimate of $666.17 million. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, sell-side analysts expect that Bright Horizons Family Solutions Inc. will post 2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $110.20, for a total transaction of $88,160.00. Following the transaction, the chief operating officer now owns 36,925 shares in the company, valued at approximately $4,069,135. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel John Guy Casagrande sold 4,235 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $129.86, for a total transaction of $549,957.10. Following the completion of the sale, the general counsel now owns 13,677 shares of the company's stock, valued at $1,776,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mary Lou Burke sold 800 shares of the firm's stock in a transaction on Friday, July 5th. The stock was sold at an average price of $110.20, for a total transaction of $88,160.00. Following the sale, the chief operating officer now owns 36,925 shares in the company, valued at $4,069,135. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,635 shares of company stock valued at $3,198,948. 1.22% of the stock is owned by company insiders.

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.