Bright Horizons Family Solutions Inc. (NYSE:BFAM) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 42.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 24,206 shares of the company’s stock after acquiring an additional 7,206 shares during the period. Royce & Associates LP’s holdings in Bright Horizons Family Solutions were worth $3,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in shares of Bright Horizons Family Solutions during the 2nd quarter worth about $28,995,000. Point72 Asset Management L.P. increased its stake in Bright Horizons Family Solutions by 64.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 570,423 shares of the company’s stock worth $62,792,000 after buying an additional 222,823 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Bright Horizons Family Solutions by 174.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 344,397 shares of the company’s stock valued at $48,260,000 after acquiring an additional 218,707 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Bright Horizons Family Solutions in the third quarter valued at approximately $13,639,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Bright Horizons Family Solutions by 3.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,757,594 shares of the company’s stock worth $303,556,000 after acquiring an additional 87,256 shares during the last quarter.

Insider Activity at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $136.94, for a total transaction of $109,552.00. Following the transaction, the chief operating officer now directly owns 31,025 shares in the company, valued at $4,248,563.50. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is owned by insiders.

Bright Horizons Family Solutions Stock Performance

NYSE:BFAM opened at $108.00 on Tuesday. The company’s 50-day moving average is $131.45 and its two-hundred day moving average is $122.63. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 54.27 and a beta of 1.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.61 and a quick ratio of 0.56. Bright Horizons Family Solutions Inc. has a 1-year low of $86.79 and a 1-year high of $141.90.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings data on Monday, November 4th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.05. Bright Horizons Family Solutions had a return on equity of 13.23% and a net margin of 4.44%. The firm had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $713.16 million. During the same period in the prior year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts forecast that Bright Horizons Family Solutions Inc. will post 3 EPS for the current year.

Analysts Set New Price Targets

BFAM has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barclays raised their price target on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. BMO Capital Markets raised shares of Bright Horizons Family Solutions from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $137.00 to $125.00 in a research note on Monday. UBS Group raised their target price on shares of Bright Horizons Family Solutions from $145.00 to $148.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley upped their price target on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the company an “underweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $141.50.

Bright Horizons Family Solutions 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.