Edenbrook Capital, Llc Buys 20,000 Shares of Brightcove Inc. (NASDAQ:BCOV) Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $2.07 per share, with a total value of $41,400.00. Following the acquisition, the insider now directly owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 18th, Edenbrook Capital, Llc purchased 2,096 shares of Brightcove stock. The stock was bought at an average price of $2.00 per share, with a total value of $4,192.00.
• On Tuesday, September 10th, Edenbrook Capital, Llc purchased 5,230 shares of Brightcove stock. The stock was bought at an average price of $2.04 per share, with a total value of $10,669.20.
• On Friday, September 6th, Edenbrook Capital, Llc purchased 11,600 shares of Brightcove stock. The stock was bought at an average price of $2.04 per share, with a total value of $23,664.00.
• On Monday, August 12th, Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock. The stock was bought at an average price of $1.98 per share, with a total value of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc acquired 30,000 shares of Brightcove stock. The stock was acquired at an average cost of $2.01 per share, for a total transaction of $60,300.00.

Brightcove Stock Up 9.7 %

Shares of BCOV stock opened at $2.37 on Wednesday. The company’s fifty day simple moving average is $2.16 and its 200-day simple moving average is $2.09. The firm has a market cap of $105.66 million, a PE ratio of -10.77 and a beta of 0.74. Brightcove Inc. has a 12 month low of $1.55 and a 12 month high of $3.37.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $49.25 million for the quarter. During the same period in the prior year, the firm earned ($0.07) EPS. On average, equities analysts predict that Brightcove Inc. will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of Brightcove

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCOV. Nantahala Capital Management LLC bought a new stake in Brightcove during the second quarter worth $3,114,000. First Eagle Investment Management LLC bought a new stake in Brightcove during the first quarter worth $642,000. Acadian Asset Management LLC raised its position in Brightcove by 17.3% during the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after acquiring an additional 139,049 shares in the last quarter. GSA Capital Partners LLP raised its position in Brightcove by 151.0% during the first quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock worth $437,000 after acquiring an additional 135,462 shares in the last quarter. Finally, Lynrock Lake LP raised its position in Brightcove by 2.3% during the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after acquiring an additional 100,000 shares in the last quarter. 80.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

About Brightcove

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.