Pitcairn Co. Acquires New Holdings in Brightcove Inc. (NASDAQ:BCOV)

Pitcairn Co. acquired a new stake in Brightcove Inc. (NASDAQ:BCOV) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 14,131 shares of the software maker’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Werba Rubin Papier Wealth Management bought a new stake in Brightcove in the 4th quarter valued at approximately $27,000. Keel Point LLC bought a new stake in shares of Brightcove during the 4th quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Brightcove during the 1st quarter worth approximately $33,000. State Board of Administration of Florida Retirement System raised its stake in shares of Brightcove by 89.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after purchasing an additional 10,120 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Brightcove by 55.3% during the 4th quarter. Mackenzie Financial Corp now owns 22,993 shares of the software maker’s stock worth $60,000 after purchasing an additional 8,186 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Brightcove Price Performance

BCOV stock opened at $2.43 on Friday. Brightcove Inc. has a 1-year low of $1.55 and a 1-year high of $4.56. The business’s 50 day simple moving average is $2.25 and its 200 day simple moving average is $2.12.

Brightcove (NASDAQ:BCOV) last posted its earnings results on Wednesday, May 8th. The software maker reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $50.48 million for the quarter. Brightcove had a negative return on equity of 7.87% and a negative net margin of 4.74%. As a group, analysts anticipate that Brightcove Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Brightcove from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th.

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.