Brightcove (NASDAQ:BCOV) Stock Rating Lowered by Lake Street Capital

Brightcove (NASDAQ:BCOV) was downgraded by analysts at Lake Street Capital from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Rosenblatt Securities restated a “neutral” rating and set a $4.45 price target (down from $5.00) on shares of Brightcove in a report on Monday. StockNews.com cut Brightcove from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

Brightcove Price Performance

Brightcove stock opened at $4.31 on Monday. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.33. The firm’s 50 day simple moving average is $2.43 and its 200-day simple moving average is $2.29. The company has a market cap of $194.54 million, a P/E ratio of -20.52 and a beta of 0.74.

Insider Activity at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were bought at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the transaction, the insider now directly owns 6,651,535 shares in the company, valued at $13,768,677.45. This trade represents a 0.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders acquired 48,988 shares of company stock valued at $100,789. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its holdings in Brightcove by 11.0% during the second quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after acquiring an additional 6,095 shares during the period. Quadrature Capital Ltd lifted its position 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 purchasing an additional 9,353 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Brightcove by 89.3% in 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 buying an additional 10,120 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in Brightcove in the 2nd quarter worth approximately $34,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Brightcove during the first quarter worth approximately $29,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

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.