Lord Abbett & CO. LLC Has $40.59 Million Stock Position in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Lord Abbett & CO. LLC lessened its holdings in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,653 shares of the company’s stock after selling 1,917 shares during the period. Lord Abbett & CO. LLC’s holdings in Bright Horizons Family Solutions were worth $40,589,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Raleigh Capital Management Inc. purchased a new position in shares of Bright Horizons Family Solutions during the 3rd quarter valued at $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Bright Horizons Family Solutions during the 3rd quarter valued at approximately $35,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Bright Horizons Family Solutions by 850.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 342 shares of the company’s stock worth $38,000 after buying an additional 306 shares during the period. True Wealth Design LLC purchased a new position in Bright Horizons Family Solutions in the 3rd quarter valued at approximately $49,000. Finally, Daiwa Securities Group Inc. raised its holdings in Bright Horizons Family Solutions by 73.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 390 shares of the company’s stock valued at $43,000 after acquiring an additional 165 shares during the period.

Insiders Place Their Bets

In related news, COO Mary Lou Burke sold 800 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $136.94, for a total transaction of $109,552.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Ann Tocio sold 5,000 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $114.71, for a total value of $573,550.00. Following the completion of the transaction, the director now directly owns 25,257 shares in the company, valued at $2,897,230.47. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.22% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BFAM shares. BMO Capital Markets upgraded Bright Horizons Family Solutions from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $137.00 to $125.00 in a research report on Monday, November 18th. UBS Group upped their price target on Bright Horizons Family Solutions from $145.00 to $148.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Robert W. Baird raised shares of Bright Horizons Family Solutions from a “neutral” rating to an “outperform” rating and set a $140.00 price target on the stock in a report on Friday, November 22nd. Morgan Stanley reduced their price objective on shares of Bright Horizons Family Solutions from $108.00 to $102.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of Bright Horizons Family Solutions from $137.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.75.

Bright Horizons Family Solutions Stock Performance

Bright Horizons Family Solutions stock opened at $109.72 on Friday. Bright Horizons Family Solutions Inc. has a fifty-two week low of $88.58 and a fifty-two week high of $141.90. The firm’s fifty day moving average price is $121.29 and its 200-day moving average price is $122.90. The stock has a market cap of $6.38 billion, a P/E ratio of 55.14 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 0.61.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.05. The firm had revenue of $719.00 million during the quarter, compared to analyst estimates of $713.16 million. Bright Horizons Family Solutions had a return on equity of 13.23% and a net margin of 4.44%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, equities research analysts expect that Bright Horizons Family Solutions Inc. will post 3.01 earnings per share for the current fiscal year.

Bright Horizons Family Solutions Company 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.