Edenbrook Capital, Llc Acquires 30,000 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc bought 30,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $2.01 per share, for a total transaction of $60,300.00. Following the acquisition, the insider now directly owns 6,561,414 shares of the company’s stock, valued at approximately $13,188,442.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% 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 Monday, August 12th, Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock. The shares were bought at an average price of $1.98 per share, for a total transaction of $39,600.00.
• On Monday, June 10th, Edenbrook Capital, Llc acquired 5,000 shares of Brightcove stock. The stock was bought at an average price of $2.02 per share, with a total value of $10,100.00.
• On Thursday, June 6th, Edenbrook Capital, Llc bought 5,700 shares of Brightcove stock. The shares were bought at an average price of $2.02 per share, for a total transaction of $11,514.00.

Brightcove Trading Up 1.0 %

Brightcove stock traded up $0.02 during mid-day trading on Tuesday, hitting $2.03. The stock had a trading volume of 344,853 shares, compared to its average volume of 260,404. The stock has a market capitalization of $90.50 million, a PE ratio of -9.09 and a beta of 0.74. Brightcove Inc. has a 12 month low of $1.55 and a 12 month high of $3.99. The stock has a 50-day simple moving average of $2.28 and a two-hundred day simple moving average of $2.10.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Keel Point LLC bought a new stake in shares of Brightcove during the fourth quarter worth approximately $34,000. Pitcairn Co. acquired a new position in shares of Brightcove in the 1st quarter valued at $27,000. Aaron Wealth Advisors LLC acquired a new position in shares of Brightcove in the 2nd quarter valued at $34,000. Price T Rowe Associates Inc. MD bought a new position in shares of Brightcove in the 1st quarter worth $29,000. Finally, XTX Topco Ltd acquired a new stake in shares of Brightcove during the second quarter worth $36,000. 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.