Brightcove (NASDAQ:BCOV) Downgraded by Lake Street Capital to “Hold”

Lake Street Capital lowered shares of Brightcove (NASDAQ:BCOV) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $4.45 price target (down from $5.00) on shares of Brightcove in a research note on Monday. StockNews.com downgraded shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Brightcove Stock Down 0.5 %

BCOV stock opened at $4.29 on Monday. The firm has a market cap of $193.65 million, a price-to-earnings ratio of -20.43 and a beta of 0.74. Brightcove has a 12-month low of $1.55 and a 12-month high of $4.33. The company’s fifty day simple moving average is $2.48 and its 200 day simple moving average is $2.30.

Insider Buying and Selling at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the purchase, the insider now owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This represents a 0.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 48,988 shares of company stock worth $100,789 over the last three months. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Brightcove

A number of institutional investors have recently modified their holdings of the business. Edenbrook Capital LLC lifted its stake in shares of Brightcove by 1.8% during the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after buying an additional 120,121 shares in the last quarter. Lynrock Lake LP increased its holdings in Brightcove by 2.3% during the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after acquiring an additional 100,000 shares during the period. Nantahala Capital Management LLC bought a new stake in Brightcove during the 2nd quarter worth approximately $3,114,000. Acadian Asset Management LLC increased its holdings in Brightcove by 17.3% during the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after acquiring an additional 139,049 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in Brightcove by 81.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after acquiring an additional 269,302 shares during the period. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

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.