Acadian Asset Management LLC Reduces Stake in Bright Horizons Family Solutions Inc (BFAM)

Acadian Asset Management LLC cut its stake in Bright Horizons Family Solutions Inc (NYSE:BFAM) by 58.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,406 shares of the company’s stock after selling 33,337 shares during the quarter. Acadian Asset Management LLC’s holdings in Bright Horizons Family Solutions were worth $2,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of BFAM. Jennison Associates LLC acquired a new position in shares of Bright Horizons Family Solutions in the second quarter worth $37,250,000. BlackRock Inc. increased its stake in shares of Bright Horizons Family Solutions by 11.6% in the second quarter. BlackRock Inc. now owns 2,783,957 shares of the company’s stock worth $285,410,000 after acquiring an additional 288,576 shares during the last quarter. FMR LLC increased its stake in shares of Bright Horizons Family Solutions by 130.7% in the second quarter. FMR LLC now owns 337,637 shares of the company’s stock worth $34,615,000 after acquiring an additional 191,301 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Bright Horizons Family Solutions by 162.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 280,698 shares of the company’s stock worth $28,774,000 after acquiring an additional 173,792 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Bright Horizons Family Solutions by 20.7% in the second quarter. CIBC Private Wealth Group LLC now owns 945,440 shares of the company’s stock worth $96,927,000 after acquiring an additional 162,080 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Bright Horizons Family Solutions stock opened at $120.81 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.34 and a current ratio of 0.39. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 47.38, a price-to-earnings-growth ratio of 3.31 and a beta of 0.19. Bright Horizons Family Solutions Inc has a one year low of $85.58 and a one year high of $120.89.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Thursday, November 1st. The company reported $0.73 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The firm had revenue of $472.00 million for the quarter, compared to the consensus estimate of $471.85 million. Bright Horizons Family Solutions had a net margin of 8.73% and a return on equity of 22.55%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. On average, sell-side analysts predict that Bright Horizons Family Solutions Inc will post 2.97 EPS for the current fiscal year.

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 1,100 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $118.87, for a total transaction of $130,757.00. Following the completion of the sale, the chief operating officer now directly owns 30,946 shares in the company, valued at $3,678,551.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger H. Brown sold 16,958 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $114.66, for a total transaction of $1,944,404.28. Following the sale, the director now owns 4,442 shares of the company’s stock, valued at $509,319.72. The disclosure for this sale can be found here. Insiders have sold 49,258 shares of company stock worth $5,692,514 over the last three months. Company insiders own 2.20% of the company’s stock.

BFAM has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Bright Horizons Family Solutions from a “hold” rating to a “sell” rating in a research note on Monday, September 10th. BMO Capital Markets upped their price target on shares of Bright Horizons Family Solutions from $114.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, August 6th. Bank of America initiated coverage on shares of Bright Horizons Family Solutions in a research note on Tuesday, October 23rd. They issued a “neutral” rating and a $118.00 price target on the stock. Citigroup downgraded shares of Bright Horizons Family Solutions from a “buy” rating to a “neutral” rating in a research note on Friday, August 3rd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upped their price target on shares of Bright Horizons Family Solutions from $121.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $113.36.

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About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides child care and early education, back-up dependent care, and educational advisory services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Dependent Care, and Other Educational Advisory Services.

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Institutional Ownership by Quarter for Bright Horizons Family Solutions (NYSE:BFAM)

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