Edenbrook Capital, Llc Purchases 11,600 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc acquired 11,600 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $2.04 per share, for a total transaction of $23,664.00. Following the transaction, the insider now owns 6,616,305 shares of the company’s stock, valued at $13,497,262.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, September 10th, Edenbrook Capital, Llc purchased 5,230 shares of Brightcove stock. The shares were purchased at an average cost of $2.04 per share, with a total value of $10,669.20.
• On Monday, August 12th, Edenbrook Capital, Llc acquired 20,000 shares of Brightcove stock. The stock was purchased at an average cost of $1.98 per share, for a total transaction of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The shares were purchased at an average cost of $2.01 per share, with a total value of $60,300.00.

Brightcove Stock Performance

Shares of NASDAQ BCOV opened at $2.04 on Thursday. Brightcove Inc. has a fifty-two week low of $1.55 and a fifty-two week high of $3.88. The company has a market cap of $90.95 million, a PE ratio of -9.27 and a beta of 0.74. The business has a 50-day simple moving average of $2.27 and a two-hundred day simple moving average of $2.09.

Brightcove (NASDAQ:BCOV) last released its earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $49.25 million during the quarter. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. During the same quarter last year, the business earned ($0.07) earnings per share. On average, sell-side analysts predict that Brightcove Inc. will post -0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Brightcove

A number of large investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC purchased a new position in Brightcove in the 2nd quarter worth $3,114,000. First Eagle Investment Management LLC acquired a new position in shares of Brightcove in the first quarter valued at about $642,000. Acadian Asset Management LLC raised its stake in shares of Brightcove by 17.3% in the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after purchasing an additional 139,049 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Brightcove by 151.0% in the first quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock worth $437,000 after purchasing an additional 135,462 shares during the last quarter. Finally, Lynrock Lake LP lifted its holdings in shares of Brightcove by 2.3% during the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after purchasing an additional 100,000 shares during the period. 80.12% of the stock is owned by hedge funds and other institutional investors.

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.