Edenbrook Capital, Llc Acquires 20,000 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the transaction, the insider now directly owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, September 18th, Edenbrook Capital, Llc purchased 2,096 shares of Brightcove stock. The shares were purchased at an average price of $2.00 per share, for a total transaction of $4,192.00.
• On Tuesday, September 10th, Edenbrook Capital, Llc purchased 5,230 shares of Brightcove stock. The shares were purchased at an average price of $2.04 per share, for a total transaction of $10,669.20.
• On Friday, September 6th, Edenbrook Capital, Llc purchased 11,600 shares of Brightcove stock. The shares were purchased at an average price of $2.04 per share, for a total transaction of $23,664.00.
• On Monday, August 12th, Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock. The shares were purchased at an average price of $1.98 per share, for a total transaction of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc purchased 30,000 shares of Brightcove stock. The shares were purchased at an average price of $2.01 per share, for a total transaction of $60,300.00.

Brightcove Trading Down 1.3 %

Shares of NASDAQ BCOV opened at $2.34 on Thursday. The stock has a market cap of $104.32 million, a P/E ratio of -10.64 and a beta of 0.74. Brightcove Inc. has a 12-month low of $1.55 and a 12-month high of $3.18. The business’s fifty day simple moving average is $2.16 and its 200-day simple moving average is $2.09.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $49.25 million for the quarter. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, equities analysts forecast that Brightcove Inc. will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Hedge Funds Weigh In On Brightcove

Large investors have recently bought and sold shares of the business. Pitcairn Co. purchased a new position in Brightcove in the first quarter valued at $27,000. Aaron Wealth Advisors LLC purchased a new position in Brightcove in the second quarter valued at $34,000. Price T Rowe Associates Inc. MD purchased a new position in Brightcove in the first quarter valued at $29,000. XTX Topco Ltd purchased a new position in Brightcove in the second quarter valued at $36,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Brightcove during the first quarter worth about $33,000. Hedge funds and other institutional investors own 80.12% of the company’s stock.

Brightcove Company Profile

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.