Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Edenbrook Capital, Llc Acquires 5,230 Shares of Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc acquired 5,230 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $2.04 per share, for a total transaction of $10,669.20. Following the transaction, the insider now owns 6,621,535 shares of the company’s stock, valued at $13,507,931.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 6th, Edenbrook Capital, Llc purchased 11,600 shares of Brightcove stock. The stock was acquired at an average price of $2.04 per share, for a total transaction of $23,664.00.
• On Monday, August 12th, Edenbrook Capital, Llc acquired 20,000 shares of Brightcove stock. The shares were acquired at an average price of $1.98 per share, with a total value of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The stock was bought at an average cost of $2.01 per share, for a total transaction of $60,300.00.

Brightcove Trading Down 1.9 %

Shares of BCOV opened at $2.06 on Wednesday. The company’s fifty day simple moving average is $2.28 and its 200 day simple moving average is $2.09. Brightcove Inc. has a 1-year low of $1.55 and a 1-year high of $3.88. The company has a market cap of $92.54 million, a price-to-earnings ratio of -9.36 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. The company had revenue of $49.25 million for the quarter. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. As a group, research analysts forecast that Brightcove Inc. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Brightcove

Several institutional investors and hedge funds have recently bought and sold shares of BCOV. Nantahala Capital Management LLC bought a new position in shares of Brightcove during the 2nd quarter worth approximately $3,114,000. First Eagle Investment Management LLC acquired a new position in shares of Brightcove in the first quarter valued at $642,000. Acadian Asset Management LLC increased its holdings 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 valued at $2,227,000 after purchasing an additional 139,049 shares during the last quarter. GSA Capital Partners LLP raised its position 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 valued at $437,000 after purchasing an additional 135,462 shares during the period. Finally, Lynrock Lake LP lifted its stake in shares of Brightcove by 2.3% during the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after buying an additional 100,000 shares during the last quarter. 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.