Bright Horizons Family Solutions Inc (BFAM) Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Bright Horizons Family Solutions Inc (NYSE:BFAM) by 22.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 247,336 shares of the company’s stock after selling 69,666 shares during the period. Bank of New York Mellon Corp owned 0.43% of Bright Horizons Family Solutions worth $25,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in BFAM. BlackRock Inc. lifted its holdings in shares of Bright Horizons Family Solutions by 4.8% in the 1st quarter. BlackRock Inc. now owns 2,495,381 shares of the company’s stock valued at $248,840,000 after purchasing an additional 114,003 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Bright Horizons Family Solutions by 5.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,102,586 shares of the company’s stock valued at $109,950,000 after purchasing an additional 52,837 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Bright Horizons Family Solutions by 18.4% in the 1st quarter. Eagle Asset Management Inc. now owns 961,749 shares of the company’s stock valued at $95,905,000 after purchasing an additional 149,255 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Bright Horizons Family Solutions by 20.7% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 945,440 shares of the company’s stock valued at $96,927,000 after purchasing an additional 162,080 shares during the last quarter. Finally, Carillon Tower Advisers Inc. increased its position in Bright Horizons Family Solutions by 29.1% in the 1st quarter. Carillon Tower Advisers Inc. now owns 653,678 shares of the company’s stock valued at $44,386,000 after acquiring an additional 147,464 shares during the period. 98.99% of the stock is owned by institutional investors.

Shares of BFAM stock opened at $116.51 on Friday. The stock has a market capitalization of $6.75 billion, a P/E ratio of 45.69, a P/E/G ratio of 2.66 and a beta of 0.12. Bright Horizons Family Solutions Inc has a 52-week low of $80.29 and a 52-week high of $120.07. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.34 and a current ratio of 0.34.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The firm had revenue of $490.00 million for the quarter, compared to analysts’ expectations of $486.63 million. Bright Horizons Family Solutions had a return on equity of 20.90% and a net margin of 8.77%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. equities research analysts forecast that Bright Horizons Family Solutions Inc will post 2.92 EPS for the current fiscal year.

In other Bright Horizons Family Solutions news, CAO Mandy Berman sold 500 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $101.68, for a total transaction of $50,840.00. Following the transaction, the chief accounting officer now owns 20,880 shares in the company, valued at approximately $2,123,078.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elizabeth J. Boland sold 5,087 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $106.22, for a total value of $540,341.14. Following the transaction, the chief financial officer now owns 138,026 shares in the company, valued at approximately $14,661,121.72. The disclosure for this sale can be found here. Insiders sold a total of 53,017 shares of company stock worth $5,984,740 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Several brokerages recently issued reports on BFAM. Zacks Investment Research upgraded Bright Horizons Family Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. BMO Capital Markets boosted their price target on Bright Horizons Family Solutions from $114.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, August 6th. Finally, Citigroup cut Bright Horizons Family Solutions from a “buy” rating to a “neutral” rating in a research report on Friday, August 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $104.91.

Bright Horizons Family Solutions Profile

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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