Brightcove Inc. (NASDAQ:BCOV) Stock Position Raised by Edenbrook Capital LLC

Edenbrook Capital LLC grew its stake in shares of Brightcove Inc. (NASDAQ:BCOV) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,651,535 shares of the software maker’s stock after buying an additional 120,121 shares during the quarter. Brightcove accounts for 6.1% of Edenbrook Capital LLC’s investment portfolio, making the stock its 6th biggest position. Edenbrook Capital LLC owned 14.81% of Brightcove worth $14,367,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BCOV. Mackenzie Financial Corp lifted its holdings in shares of Brightcove by 11.0% in the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock worth $145,000 after acquiring an additional 6,095 shares during the last quarter. Quadrature Capital Ltd lifted its stake in Brightcove by 12.4% in the first 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 boosted its position in Brightcove by 89.3% during the first 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 period. Aaron Wealth Advisors LLC bought a new position in shares of Brightcove during the second quarter valued at about $34,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Brightcove during the first quarter valued at about $29,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Brightcove Price Performance

NASDAQ BCOV opened at $4.31 on Wednesday. The business’s 50-day moving average is $2.43 and its 200 day moving average is $2.29. Brightcove Inc. has a 1 year low of $1.55 and a 1 year high of $4.33.

Insider Transactions at Brightcove

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com cut Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Rosenblatt Securities restated a “neutral” rating and issued a $4.45 target price (down previously from $5.00) on shares of Brightcove in a report on Monday. Finally, Lake Street Capital downgraded shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday.

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.