Millennium Management LLC Lowers Holdings in Brightcove Inc (BCOV)

Millennium Management LLC reduced its holdings in shares of Brightcove Inc (NASDAQ:BCOV) by 92.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,629 shares of the software maker’s stock after selling 275,346 shares during the period. Millennium Management LLC’s holdings in Brightcove were worth $152,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BCOV. Metropolitan Life Insurance Co. NY grew its position in Brightcove by 404.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,822 shares of the software maker’s stock worth $83,000 after purchasing an additional 9,480 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Brightcove during the 4th quarter worth $104,000. Bank of America Corp DE grew its position in Brightcove by 144.2% during the 4th quarter. Bank of America Corp DE now owns 20,779 shares of the software maker’s stock worth $146,000 after purchasing an additional 12,271 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Brightcove by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 26,669 shares of the software maker’s stock worth $224,000 after purchasing an additional 9,480 shares during the last quarter. Finally, King Luther Capital Management Corp grew its position in Brightcove by 20.8% during the 4th quarter. King Luther Capital Management Corp now owns 32,000 shares of the software maker’s stock worth $225,000 after purchasing an additional 5,500 shares during the last quarter. 76.72% of the stock is currently owned by institutional investors.

In other news, CEO Jeff Ray bought 5,000 shares of Brightcove stock in a transaction dated Monday, February 25th. The stock was bought at an average price of $8.45 per share, for a total transaction of $42,250.00. Following the purchase, the chief executive officer now owns 25,000 shares of the company’s stock, valued at $211,250. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

BCOV has been the topic of several research reports. BidaskClub downgraded shares of Brightcove from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Zacks Investment Research downgraded shares of Brightcove from a “buy” rating to a “hold” rating in a research report on Monday, January 28th. Finally, Northland Securities reissued a “buy” rating on shares of Brightcove in a research report on Monday, April 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Brightcove presently has an average rating of “Buy” and an average target price of $12.60.

BCOV stock opened at $10.06 on Thursday. Brightcove Inc has a one year low of $6.88 and a one year high of $10.75. The firm has a market capitalization of $369.70 million, a PE ratio of -37.26 and a beta of 1.11.

Brightcove (NASDAQ:BCOV) last released its earnings results on Wednesday, April 24th. The software maker reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. Brightcove had a negative net margin of 10.13% and a negative return on equity of 13.98%. The company had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $40.22 million. During the same quarter last year, the business earned ($0.06) EPS. The business’s revenue was up 1.5% on a year-over-year basis. Equities research analysts expect that Brightcove Inc will post -0.13 earnings per share for the current fiscal year.

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Brightcove Company Profile

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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Institutional Ownership by Quarter for Brightcove (NASDAQ:BCOV)

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