Keel Point LLC Purchases New Shares in Brightcove Inc. (NASDAQ:BCOV)

Keel Point LLC purchased a new stake in Brightcove Inc. (NASDAQ:BCOV) during the 4th quarter, HoldingsChannel reports. The firm purchased 12,980 shares of the software maker’s stock, valued at approximately $34,000.

Several other large investors have also added to or reduced their stakes in BCOV. Swiss National Bank boosted its holdings in Brightcove by 8.2% in the first quarter. Swiss National Bank now owns 72,900 shares of the software maker’s stock valued at $569,000 after acquiring an additional 5,500 shares in the last quarter. MetLife Investment Management LLC lifted its position in Brightcove by 17.6% during the first quarter. MetLife Investment Management LLC now owns 16,811 shares of the software maker’s stock valued at $131,000 after buying an additional 2,515 shares during the period. Dimensional Fund Advisors LP lifted its position in Brightcove by 28.4% during the first quarter. Dimensional Fund Advisors LP now owns 422,359 shares of the software maker’s stock valued at $3,295,000 after buying an additional 93,440 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in Brightcove by 0.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 310,375 shares of the software maker’s stock valued at $2,421,000 after buying an additional 1,420 shares during the period. Finally, Federated Hermes Inc. lifted its position in Brightcove by 162.0% during the first quarter. Federated Hermes Inc. now owns 2,205,445 shares of the software maker’s stock valued at $17,202,000 after buying an additional 1,363,779 shares during the period. Institutional investors own 80.12% of the company’s stock.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc acquired 30,000 shares of Brightcove stock in a transaction that occurred on Wednesday, March 20th. The stock was bought at an average cost of $1.88 per share, for a total transaction of $56,400.00. Following the acquisition, the insider now owns 6,435,437 shares of the company’s stock, valued at $12,098,621.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 56,541 shares of company stock worth $102,598. 4.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Lake Street Capital reissued a “hold” rating and set a $3.00 price objective on shares of Brightcove in a research report on Friday, February 23rd. Rosenblatt Securities lowered their price objective on Brightcove from $7.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, StockNews.com raised Brightcove from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd.

Brightcove Price Performance

BCOV opened at $1.70 on Thursday. The stock has a 50-day moving average price of $1.99 and a 200-day moving average price of $2.38. The firm has a market cap of $75.50 million, a PE ratio of -3.15 and a beta of 0.68. Brightcove Inc. has a 1 year low of $1.63 and a 1 year high of $4.56.

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

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.