Cannon Global Investment Management LLC Makes New $1.33 Million Investment in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Cannon Global Investment Management LLC bought a new stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 9,500 shares of the company's stock, valued at approximately $1,331,000. Bright Horizons Family Solutions accounts for 2.1% of Cannon Global Investment Management LLC's holdings, making the stock its 9th largest holding.

Several other large investors also recently made changes to their positions in BFAM. OLD National Bancorp IN lifted its position in Bright Horizons Family Solutions by 2.7% in the 3rd quarter. OLD National Bancorp IN now owns 3,159 shares of the company's stock valued at $443,000 after acquiring an additional 82 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Bright Horizons Family Solutions by 6.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,097 shares of the company's stock valued at $252,000 after acquiring an additional 119 shares in the last quarter. MJP Associates Inc. ADV lifted its position in Bright Horizons Family Solutions by 7.0% in the 2nd quarter. MJP Associates Inc. ADV now owns 2,390 shares of the company's stock valued at $263,000 after acquiring an additional 157 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Bright Horizons Family Solutions by 73.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 390 shares of the company's stock valued at $43,000 after acquiring an additional 165 shares in the last quarter. Finally, Quarry LP lifted its position in Bright Horizons Family Solutions by 68.3% in the 2nd quarter. Quarry LP now owns 436 shares of the company's stock valued at $48,000 after acquiring an additional 177 shares in the last quarter.

Analysts Set New Price Targets

BFAM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of 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. BMO Capital Markets raised their price target on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a "market perform" rating in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on Bright Horizons Family Solutions from $115.00 to $131.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. UBS Group increased their price target on Bright Horizons Family Solutions from $128.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their price objective on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Bright Horizons Family Solutions presently has a consensus rating of "Hold" and a consensus price target of $134.63.

Bright Horizons Family Solutions Stock Performance

BFAM stock traded up $0.07 during midday trading on Friday, hitting $133.54. The company's stock had a trading volume of 657,155 shares, compared to its average volume of 406,414. The stock's 50-day moving average price is $136.39 and its 200 day moving average price is $121.87. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.73. Bright Horizons Family Solutions Inc. has a 1 year low of $77.35 and a 1 year high of $141.90. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 76.75 and a beta of 1.49.

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

Insider Activity

In other news, General Counsel John Guy Casagrande sold 4,235 shares of the company's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $129.86, for a total transaction of $549,957.10. Following the transaction, the general counsel now owns 13,677 shares of the company's stock, valued at $1,776,095.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel John Guy Casagrande sold 4,235 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $129.86, for a total transaction of $549,957.10. Following the sale, the general counsel now owns 13,677 shares of the company's stock, valued at approximately $1,776,095.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mary Lou Burke sold 800 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $136.94, for a total value of $109,552.00. Following the sale, the chief operating officer now directly owns 31,025 shares in the company, valued at $4,248,563.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,135 shares of company stock valued at $1,202,290 in the last 90 days. Insiders own 1.22% of the company's stock.

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.