Edenbrook Capital, Llc Buys 10,000 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 10,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were purchased at an average cost of $1.68 per share, for a total transaction of $16,800.00. Following the transaction, the insider now directly owns 6,465,802 shares in the company, valued at approximately $10,862,547.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Friday, April 12th, Edenbrook Capital, Llc acquired 6,351 shares of Brightcove stock. The shares were bought at an average cost of $1.70 per share, for a total transaction of $10,796.70.
• On Wednesday, April 10th, Edenbrook Capital, Llc acquired 5,000 shares of Brightcove stock. The shares were bought at an average cost of $1.80 per share, for a total transaction of $9,000.00.
• On Tuesday, April 2nd, Edenbrook Capital, Llc acquired 5,190 shares of Brightcove stock. The shares were bought at an average cost of $1.85 per share, for a total transaction of $9,601.50.
• On Wednesday, March 20th, Edenbrook Capital, Llc acquired 30,000 shares of Brightcove stock. The shares were bought at an average cost of $1.88 per share, for a total transaction of $56,400.00.

Brightcove Stock Performance

Brightcove stock traded down $0.05 during midday trading on Wednesday, hitting $1.70. 221,982 shares of the company were exchanged, compared to its average volume of 223,713. The firm has a market capitalization of $75.50 million, a PE ratio of -3.14 and a beta of 0.68. Brightcove Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $4.56. The business has a fifty day simple moving average of $2.00 and a two-hundred day simple moving average of $2.39.

Brightcove (NASDAQ:BCOV) last posted its earnings results on Thursday, February 22nd. The software maker reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $50.16 million for the quarter. Brightcove had a negative return on equity of 17.02% and a negative net margin of 11.38%. As a group, equities analysts expect that Brightcove Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on BCOV shares. Rosenblatt Securities decreased their price target on Brightcove from $7.50 to $5.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Lake Street Capital reiterated a “hold” rating and issued a $3.00 price target on shares of Brightcove in a research note on Friday, February 23rd.

Institutional Trading of Brightcove

Several hedge funds and other institutional investors have recently bought and sold shares of BCOV. Werba Rubin Papier Wealth Management acquired a new stake in Brightcove in the fourth quarter valued at approximately $27,000. Tower Research Capital LLC TRC grew its holdings in Brightcove by 386.1% in the first quarter. Tower Research Capital LLC TRC now owns 6,237 shares of the software maker’s stock valued at $28,000 after purchasing an additional 4,954 shares during the period. Keel Point LLC acquired a new stake in Brightcove in the fourth quarter valued at approximately $34,000. Ameriprise Financial Inc. acquired a new stake in Brightcove in the third quarter valued at approximately $35,000. Finally, 17 Capital Partners LLC acquired a new stake in shares of Brightcove in the fourth quarter worth approximately $36,000. 80.12% of the stock is 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.