Horrell Capital Management Inc. decreased its position in Brightcove Inc (NASDAQ:BCOV) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 358,859 shares of the software maker’s stock after selling 50,000 shares during the period. Brightcove makes up 1.5% of Horrell Capital Management Inc.’s holdings, making the stock its 26th biggest holding. Horrell Capital Management Inc.’s holdings in Brightcove were worth $3,018,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in BCOV. Trigran Investments Inc. lifted its holdings in Brightcove by 95.6% in the fourth quarter. Trigran Investments Inc. now owns 3,425,086 shares of the software maker’s stock valued at $24,112,000 after buying an additional 1,674,444 shares during the period. Vanguard Group Inc lifted its holdings in Brightcove by 17.5% in the third quarter. Vanguard Group Inc now owns 1,926,082 shares of the software maker’s stock valued at $16,179,000 after buying an additional 286,537 shares during the period. Vanguard Group Inc. lifted its holdings in Brightcove by 17.5% in the third quarter. Vanguard Group Inc. now owns 1,926,082 shares of the software maker’s stock valued at $16,179,000 after buying an additional 286,537 shares during the period. AQR Capital Management LLC lifted its holdings in Brightcove by 74.8% in the third quarter. AQR Capital Management LLC now owns 487,825 shares of the software maker’s stock valued at $4,098,000 after buying an additional 208,760 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Brightcove by 117.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 225,107 shares of the software maker’s stock valued at $1,585,000 after buying an additional 121,386 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.
Shares of NASDAQ BCOV traded up $0.17 during trading on Tuesday, hitting $8.59. 58,139 shares of the company traded hands, compared to its average volume of 110,736. Brightcove Inc has a fifty-two week low of $6.88 and a fifty-two week high of $10.75. The firm has a market capitalization of $318.94 million, a P/E ratio of -31.81 and a beta of 1.04.
In related news, CEO Jeff Ray acquired 5,000 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were purchased at an average price of $8.45 per share, for a total transaction of $42,250.00. Following the completion of the acquisition, the chief executive officer now owns 25,000 shares of the company’s stock, valued at $211,250. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
Several equities analysts recently issued reports on BCOV shares. BidaskClub lowered shares of Brightcove from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Zacks Investment Research lowered shares of Brightcove from a “buy” rating to a “hold” rating in a report on Monday, January 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Brightcove presently has an average rating of “Buy” and a consensus price target of $12.35.
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Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.
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