Lord Abbett & CO. LLC Takes $64.74 Million Position in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Lord Abbett & CO. LLC purchased a new position in Bright Horizons Family Solutions Inc. (NYSE:BFAM) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 571,053 shares of the company’s stock, valued at approximately $64,735,000. Lord Abbett & CO. LLC owned about 0.98% of Bright Horizons Family Solutions at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BFAM. SG Americas Securities LLC bought a new stake in shares of Bright Horizons Family Solutions in the fourth quarter worth $176,000. Raymond James & Associates increased its stake in shares of Bright Horizons Family Solutions by 2.0% in the fourth quarter. Raymond James & Associates now owns 467,625 shares of the company’s stock worth $44,069,000 after buying an additional 9,274 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Bright Horizons Family Solutions in the fourth quarter worth $54,890,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Bright Horizons Family Solutions by 10.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,127 shares of the company’s stock worth $1,520,000 after buying an additional 1,526 shares during the last quarter. Finally, Sapient Capital LLC bought a new stake in shares of Bright Horizons Family Solutions in the fourth quarter worth $470,000.

Insider Activity at Bright Horizons Family Solutions

In related news, CAO Jason Janoff sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $113.79, for a total value of $682,740.00. Following the completion of the sale, the chief accounting officer now owns 8,955 shares of the company’s stock, valued at approximately $1,018,989.45. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Bright Horizons Family Solutions news, CEO Stephen Howard Kramer sold 11,250 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $113.95, for a total transaction of $1,281,937.50. Following the completion of the sale, the chief executive officer now owns 122,573 shares of the company’s stock, valued at $13,967,193.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jason Janoff sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $113.79, for a total value of $682,740.00. Following the sale, the chief accounting officer now directly owns 8,955 shares of the company’s stock, valued at approximately $1,018,989.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,447 shares of company stock valued at $3,186,710. 1.22% of the stock is owned by corporate insiders.

Bright Horizons Family Solutions Stock Up 0.3 %

Shares of BFAM traded up $0.38 during trading hours on Friday, reaching $118.72. The company’s stock had a trading volume of 253,632 shares, compared to its average volume of 337,441. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 83.34, a P/E/G ratio of 4.47 and a beta of 1.45. Bright Horizons Family Solutions Inc. has a 1-year low of $71.65 and a 1-year high of $122.67. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $108.88 and a two-hundred day moving average of $107.27.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $622.71 million for the quarter, compared to the consensus estimate of $614.60 million. Bright Horizons Family Solutions had a return on equity of 12.00% and a net margin of 3.34%. As a group, research analysts predict that Bright Horizons Family Solutions Inc. will post 2.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on BFAM shares. StockNews.com upgraded shares of Bright Horizons Family Solutions from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. BMO Capital Markets boosted their target price on shares of Bright Horizons Family Solutions from $102.00 to $104.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of Bright Horizons Family Solutions from $107.00 to $119.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. The Goldman Sachs Group boosted their target price on shares of Bright Horizons Family Solutions from $108.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Robert W. Baird boosted their price target on shares of Bright Horizons Family Solutions from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Bright Horizons Family Solutions presently has a consensus rating of “Hold” and a consensus price target of $107.43.

About Bright Horizons Family Solutions

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.