Bright Horizons Family Solutions Inc. (NYSE:BFAM) Stake Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,300 shares of the company's stock after selling 4,900 shares during the quarter. Renaissance Technologies LLC owned about 0.16% of Bright Horizons Family Solutions worth $10,121,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd grew its stake in shares of Bright Horizons Family Solutions by 62.8% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 7,097 shares of the company's stock valued at $787,000 after buying an additional 2,739 shares during the period. New York Life Investment Management LLC acquired a new stake in Bright Horizons Family Solutions during the fourth quarter worth about $679,000. New York State Common Retirement Fund increased its stake in Bright Horizons Family Solutions by 45.4% during the fourth quarter. New York State Common Retirement Fund now owns 115,183 shares of the company's stock worth $12,768,000 after acquiring an additional 35,959 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Bright Horizons Family Solutions in the 4th quarter worth about $5,212,000. Finally, LPL Financial LLC lifted its stake in shares of Bright Horizons Family Solutions by 11.4% in the 4th quarter. LPL Financial LLC now owns 40,068 shares of the company's stock valued at $4,442,000 after purchasing an additional 4,108 shares in the last quarter.

Bright Horizons Family Solutions Price Performance

NYSE:BFAM traded up $3.71 during midday trading on Tuesday, hitting $117.10. 512,016 shares of the stock were exchanged, compared to its average volume of 439,491. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 48.79 and a beta of 1.31. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. Bright Horizons Family Solutions Inc. has a one year low of $100.59 and a one year high of $141.90. The business has a 50-day moving average price of $123.57 and a two-hundred day moving average price of $120.25.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.03). Bright Horizons Family Solutions had a net margin of 5.22% and a return on equity of 13.63%. Sell-side analysts predict that Bright Horizons Family Solutions Inc. will post 3.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Bright Horizons Family Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, February 22nd. Morgan Stanley cut their price objective on Bright Horizons Family Solutions from $102.00 to $100.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 11th. BMO Capital Markets upped their target price on Bright Horizons Family Solutions from $127.00 to $146.00 and gave the stock an "outperform" rating in a research 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 on the stock in a report on Friday, December 27th. Finally, UBS Group reduced their price target on Bright Horizons Family Solutions from $148.00 to $130.00 and set a "neutral" rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $137.67.

Insider Buying and Selling

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 1,000 shares of the business's stock in a transaction dated 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 owns 33,449 shares in the company, valued at approximately $4,170,755.81. The trade was a 2.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Ann Tocio sold 2,500 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $124.74, for a total transaction of $311,850.00. Following the completion of the transaction, the director now owns 22,757 shares of the company's stock, valued at approximately $2,838,708.18. The trade was a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.22% of the company's stock.

Bright Horizons Family Solutions Company Profile

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.