ABC Arbitrage SA Buys Shares of 238,710 Brightcove Inc. (NASDAQ:BCOV)

ABC Arbitrage SA bought a new stake in shares of Brightcove Inc. (NASDAQ:BCOV) during the 4th quarter, Holdings Channel reports. The firm bought 238,710 shares of the software maker’s stock, valued at approximately $1,038,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in Brightcove during the 4th quarter valued at $90,000. JPMorgan Chase & Co. raised its stake in shares of Brightcove by 99.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock worth $66,000 after buying an additional 15,291 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Brightcove by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after buying an additional 37,584 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Brightcove by 1,124.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after buying an additional 225,482 shares in the last quarter. Finally, Edenbrook Capital LLC raised its stake in shares of Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock worth $14,367,000 after buying an additional 120,121 shares in the last quarter. Institutional investors own 80.12% of the company’s stock.

Brightcove Price Performance

Shares of NASDAQ BCOV opened at $4.45 on Friday. The stock has a market capitalization of $202.12 million, a price-to-earnings ratio of -21.19 and a beta of 1.01. The stock’s fifty day simple moving average is $4.40 and its 200 day simple moving average is $3.17. Brightcove Inc. has a 52-week low of $1.55 and a 52-week high of $4.46.

Wall Street Analyst Weigh In

BCOV has been the topic of a number of research reports. StockNews.com initiated coverage on Brightcove in a research note on Wednesday. They issued a “buy” rating on the stock. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $4.45 price objective (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove 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.